Section 8 Fair Market Rent (FMR) for ZIP 13832 - 2027

Location: Chenango County, NY | Metro: Chenango County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,090
1 Bedroom	$1,110
2 Bedrooms	$1,320
3 Bedrooms	$1,810
4 Bedrooms	$1,950
5 Bedrooms	$2,262
6 Bedrooms	$2,533
7 Bedrooms	$2,736
8 Bedrooms	$2,873

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

448

Median Household Income

$78,125

Housing Units

277

Renter Percentage

3.0%

Occupancy Rate

60.3%

Renter Occupied

The ZIP code 13832, located in the heart of Central New York, offers a unique blend of rural charm and suburban accessibility. This area is characterized by its quiet neighborhoods and close proximity to larger metropolitan areas, making it an attractive location for both residents and investors. The following analysis provides key insights into the real estate market dynamics within this region.

The Fair Market Rent (FMR) for ZIP 13832 is set at $1,150 for the fiscal year 2026, reflecting the average rental price for a modest apartment in the area.
The market rent for the area is currently N/A, indicating that there may be limited data available on recent rental prices, which could suggest a stable but less dynamic rental market.
The median home value stands at $152,585, offering potential buyers a relatively affordable entry point into homeownership.
Renters make up only 3.0% of the population, suggesting a strong preference for homeownership over renting among residents.
The Days on Market (DOM) for properties in this area is N/A, which might imply that listings are either quickly sold or that there isn't enough recent transaction data to provide an accurate figure.
The median household income is $78,125, providing insight into the economic stability and purchasing power of local residents.

Investors looking to enter the ZIP 13832 market should focus on long-term strategies given the high percentage of homeowners and the limited availability of recent rental data. The fair market rent suggests that rental properties can command reasonable prices, though the low renter share indicates a need for properties that cater to those seeking to purchase rather than rent. The median home value being below the national average presents opportunities for both residential investment and potential resale gains, assuming the area's economic conditions remain stable. Overall, ZIP 13832 appears to favor investments in owner-occupied homes over rental units, due to the strong preference for homeownership and the current lack of robust rental market data.

Data Sources: FMR data from HUD (2027). 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.