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 | $850 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $135,359 | 0.9% | C |
| 3BR | $1,540 | $170,786 | 0.9% | C |
| 4BR | $1,770 | $186,569 | 0.95% | C |
U.S. Census Bureau data (2024)
To integrate ZIP 13904, located in Binghamton, NY, into a Section 8 portfolio strategy, it's essential to analyze its financial metrics and market conditions. This ZIP code presents itself primarily as a cash-flow anchor.
The Federal Market Rent (FMR) for ZIP 13904 in fiscal year 2024 is set at $1120, which is notably higher than the current market rent of $936. This $184 difference per unit represents a significant spread that can be leveraged to ensure steady and reliable cash flow. The median home value of $153,377 indicates a relatively affordable market, making it easier for landlords to acquire properties without substantial upfront investment.
Binghamton, NY, being part of the Binghamton, NY MSA metro area, benefits from regional stability and a predictable rental market. With a 0.2% price-cut share, indicating that very few landlords need to reduce their rents to attract tenants, and an N/A-day Days on Market (DOM), suggesting a swift leasing process, the area maintains a healthy rental environment.
Furthermore, the ZIP code has a renter share of 35.3%, showing a moderate reliance on rental housing. Coupled with a median income of $53,984, there is a sufficient number of potential tenants who qualify for Section 8 assistance. Landlords can expect a stable tenant pool, reducing the risk of vacancies and ensuring consistent cash flow.
In conclusion, ZIP 13904 is best suited as a cash-flow anchor within a Section 8 portfolio strategy due to the positive spread between the FMR and market rent, along with the area's overall affordability and tenant stability. This positioning allows investors to rely on steady income from a property where the government subsidy significantly exceeds the market rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.