Location: Schuyler County, 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 | $1,050 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $170,844 | 0.82% | C |
| 3BR | $1,700 | $192,251 | 0.88% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14889, which includes Van Etten, NY, is set at $1270 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 housing program. It's important to note that this is not necessarily the rent you will receive; it is the ceiling for rent charges.
In comparison, the average rent for the area is $1,085, based on data from the Census Bureau's American Community Survey. This indicates that the FMR is higher than the typical market rate, potentially making participation in the Section 8 program financially attractive.
The median household income in ZIP 14889 is $172,119. While this suggests that the area has a relatively high income level, it does not directly correlate with the number of potential renters who might qualify for the Section 8 program. The renter share of the population is 20.4%, indicating a moderate demand for rental properties. Landlords should consider this when evaluating the potential occupancy rate for a Section 8 property.
Before deciding to participate in the Section 8 program, verify that your property meets all the necessary requirements for the program, including safety and habitability standards. These criteria ensure that the rental unit is suitable for low-income families and that you will be eligible to receive the subsidy payments.
Participating in Section 8 can provide a steady stream of rental income, even if it is slightly below the FMR. The program also offers protection against non-payment of rent, as the government covers the difference between the tenant's contribution and the total rent. However, landlords must adhere to strict guidelines and undergo regular inspections to maintain compliance.
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.