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 | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $140,260 | 0.81% | C |
| 3BR | $1,440 | $192,198 | 0.75% | D |
| 4BR | $1,650 | $246,527 | 0.67% | D |
| 5BR | $1,914 | $302,852 | 0.63% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 13903, located in Binghamton, NY, within Broome County and the Binghamton, NY MSA, reveals key insights into the rental and housing market dynamics. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,110, while the market rent, as measured by Zillow's ZORI index, stands at $1,200. This indicates that landlords participating in the Section 8 program will experience marginal cash flow at the HUD FMR rate, given the slight gap between the two figures.
To further contextualize these numbers, the median home value in ZIP 13903 is $180,574. Using this figure, we can derive a rent-to-price ratio. With an average monthly rent of $1,200, the annual rent would be $14,400. This translates to an approximate rent-to-price ratio of 8%, calculated by dividing the annual rent by the median home value. This ratio suggests that rental income represents a significant portion of the property's value, making it a viable investment option for those focused on cash flow.
The median days on market (DOM) for homes in this area is 33 days, and the share of listings experiencing price cuts is only 0.2%. These metrics indicate a relatively stable and efficient market, where properties sell quickly without substantial price adjustments. Such conditions support the notion that rental properties are likely to maintain their value over time, providing stability and potentially moderate appreciation for long-term investors.
In summary, Section 8 investors in ZIP 13903 can expect marginal cash flow at the HUD FMR rate of $1,110, with a favorable rent-to-price ratio of around 8%. The strong rent-versus-buy dynamics, evidenced by quick sales and minimal price adjustments, point to stability as the strongest investor angle in this market.
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.