Section 8 Fair Market Rent (FMR) for ZIP 13865 - 2027

Location: Binghamton, NY | Metro: Binghamton, NY MSA

Investment Score for ZIP 13865

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$163,544

1% Rule

0.62%

Annual Yield

7.41%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$790
2 Bedrooms	$1,010
3 Bedrooms	$1,290
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,010	$163,544	0.62%	D
3BR	$1,290	$206,636	0.62%	D
4BR	$1,480	$248,168	0.6%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,610

Median Household Income

$73,623

Housing Units

3,048

Renter Percentage

11.8%

Occupancy Rate

81.8%

Renter Occupied

295

A landlord considering ZIP 13865 (Windsor, NY) for Section 8 investments must follow a structured decision-making process. The first step is to evaluate if the Fair Market Rent (FMR) of $910 for the fiscal year 2024 can cover the debt service on a property valued at $177,157. If the answer is yes, proceed to the next question. Otherwise, the investment is not advisable.

The second question is whether the market rent of $839 (as per Census ACS data) is above, at, or below the FMR. If market rent is below FMR, the landlord will likely need to rely heavily on Section 8 subsidies to make the investment profitable. If market rent is at or above FMR, the landlord has flexibility in pricing and can consider other rental options beyond Section 8.

The third consideration is the demand for rentals. In Windsor, NY, 11.8% of the population are renters, but the days on market (DOM) is listed as N/A, which means there's insufficient data to determine how quickly properties are rented. This uncertainty in DOM can affect the confidence in predicting demand stability.

If FMR does not clear the debt service, the answer is No. An investment cannot be profitable if the rental income does not meet the financial obligations associated with owning the property.
If FMR clears the debt service and market rent is below FMR, the answer is It Depends. The landlord needs to assess their willingness to depend on Section 8 subsidies for profitability. Additionally, the landlord should consider the administrative burden and requirements of participating in the Section 8 program.
If FMR clears the debt service and market rent is at or above FMR, the answer is Yes. This scenario indicates that the landlord can potentially earn higher rents or maintain profitability without relying solely on Section 8 subsidies. However, the landlord must still evaluate the demand for rentals, which is moderately high at 11.8%, though the lack of DOM data introduces some risk.

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.