Location: Delaware County, NY | Metro: Delaware County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 13847 presents a unique scenario when analyzing rental affordability from the renter's perspective. Given the lack of specific data on median income and market rate rents, it's essential to consider the broader context of the area, which has a very low population of only 18 individuals, with no reported renters. This makes direct comparisons challenging but not impossible.
Despite the absence of detailed income and market rate data, the Federal Market Rent (FMR) for ZIP 13847 is set at $970 for the fiscal year 2026. This figure represents the maximum amount that a Section 8 voucher holder would be able to pay towards their housing costs in this ZIP code. The implication is that if market rates exceed this amount, there is a significant affordability gap for those relying solely on vouchers.
In an area with such a small population and no reported renters, competition among landlords is likely minimal. However, this also means that attracting tenants might require a more strategic approach. Landlords must decide whether to cater to voucher holders, who can pay up to $970, or focus on non-voucher paying tenants who could potentially offer higher monthly rent payments, assuming they have sufficient income to cover the cost.
The takeaway for landlords is clear: while there is limited competition, the decision to accept voucher holders versus seeking cash-paying tenants should be based on the local economic conditions and the availability of potential tenants. If the majority of residents are eligible for and prefer using vouchers, then setting rent at or below the $970 FMR will ensure steady occupancy. Conversely, if the area has a mix of residents with higher incomes willing to pay more, landlords might find greater financial benefit in targeting these households, though it would require thorough market research to confirm this strategy's viability.
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.