Location: Cortland County, NY | Metro: Binghamton, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
ZIP code 13841, located in Cortland County, NY, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area is set at $1,210 for fiscal year 2026, which is notably higher than the current market rent of $1,093. This creates a positive spread that benefits landlords participating in the Section 8 program.
The median home value in ZIP 13841 stands at $144,595, indicating that properties in this area are relatively affordable. This makes it easier for landlords to acquire new properties or maintain existing ones without a significant capital investment. Given the FMR is above the market rent, landlords can secure steady rental income that exceeds the local average, ensuring robust cash flow.
While there is limited data on price-cut shares and days on market (DOM), the focus should remain on the reliable income generation aspect of this ZIP code. The 24.6% renter share suggests a moderate demand for rentals, but it's the guaranteed payment structure of Section 8 that stabilizes cash flows. With a median income of $58,229, tenants in this area are likely to be financially stable and meet the requirements for Section 8 eligibility, reducing the risk of default.
In conclusion, ZIP 13841 is best suited as a cash-flow anchor due to the favorable spread between the FMR and market rent, coupled with the affordability of properties in the area. Landlords and small-portfolio investors can rely on consistent and above-average rental income, making it a solid choice for their Section 8 investments.
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.