Location: Binghamton, NY | Metro: Binghamton, NY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $148,631 | 0.8% | C |
| 3BR | $1,500 | $207,525 | 0.72% | D |
| 4BR | $1,730 | $268,406 | 0.64% | D |
| 5BR | $2,007 | $296,435 | 0.68% | D |
U.S. Census Bureau data (2024)
The Owego, NY ZIP code 13827 stands out within Tioga County due to its unique demographic and economic characteristics. With a population of 11,832 residents, 28.7% of whom rent their homes, Owego has a median income of $72,769. The median home value in the area is notably higher at $196,338, reflecting a stable housing market.
For landlords and small-portfolio investors, the Section 8 voucher program presents an opportunity to engage with the rental market. The Fair Market Rent (FMR) for Owego, NY for fiscal year 2024 is set at $1150 per month. However, the actual market rent, according to Census ACS data, is lower at $915 per month. This means that landlords who accept vouchers can potentially receive a higher monthly rental income compared to the local market rate.
The data signature for ZIP 13827 suggests a stable environment. The relatively high median income and median home value indicate a community with financial stability, which is conducive to steady rental demand. While the disparity between the FMR and the market rent might suggest some transitional dynamics, the overall picture points towards a consistent market where the Section 8 program can serve as a reliable source of tenants for property owners.
To summarize, Owego, NY offers a balanced mix of demographics and economics that make it an attractive location for those involved in the rental sector. The higher FMR compared to the market rent provides an incentive for landlords to participate in the Section 8 program, ensuring a stable and predictable income stream.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.