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Tompkins County/Ithaca/14850

14850

ZIPSAFMR
Tompkins County, NY
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$1,370$1,510
1 BR$1,630$1,530
2 BR$1,950$1,950
3 BR$2,330$2,370
4 BR$3,000$3,020
5 BR$3,450Not available
6 BR$3,967Not available
7 BR$4,563Not available
8 BR$5,247Not available

Purchase Price Calculator

Maximum purchase price
$227,853

Cost breakdown

+Likely effective rent$1,950
HUD FMR$1,950
Market rent$1,950
Est. payment standard (100%)Used$1,950
-Principal and interest-$1,152
Loan amount$182,282
Down payment$45,571
Rate6.50%
Term30 years
-Operating costs-$598
Property taxes-$228
Insurance-$175
Utilities$0
HOA$0
Management-$195
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,250(68.6% ROI)
Projected value
$245,372
Return breakdown
Property appreciation+$17,520
Loan principal paid down+$6,531
Rental cash flow+$7,200
5-year hold
+$53,588(117.6% ROI)
Projected value
$257,794
Return breakdown
Property appreciation+$29,942
Loan principal paid down+$11,646
Rental cash flow+$12,000
10-year hold
+$115,568(253.6% ROI)
Projected value
$291,671
Return breakdown
Property appreciation+$63,818
Loan principal paid down+$27,750
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
1.07
2 BR
1.00
3 BR
0.97
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 14850 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14850 (Ithaca, NY) is $1,950 a month. That is up 3.2% from $1,890 in FY 2026. Ithaca is in the Ithaca, NY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,709. Among 21 ZIP codes in Tompkins County, 14850 is tied for the highest two-bedroom rent (county range $1,580–$1,950). The median county two-bedroom FMR in New York is $1,385, so ZIP 14850 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14850
BedroomsFY 2027Change90–110% range
Studio$1,370+0.7%$1,233–$1,507
1BR$1,630+3.2%$1,467–$1,793
2BR$1,950+3.2%$1,755–$2,145
3BR$2,330+2.6%$2,097–$2,563
4BR$3,000+6.0%$2,700–$3,300

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14850
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,370$1,630$1,950$2,330$3,000
FY 2026$1,360$1,580$1,890$2,270$2,830
FY 2025$1,380$1,560$1,780$2,140$2,460
FY 2024$1,390$1,520$1,760$2,170$2,360
FY 2023$1,350$1,450$1,690$2,150$2,270

Two-bedroom rent in nearby Tompkins County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14850
13864$1,580−19.0%
14817$1,830−6.2%
14850Current$1,950—
14851$1,710−12.3%
14852$1,710−12.3%
14853$1,9500.0%
14854$1,650−15.4%
14867$1,580−19.0%
14881$1,860−4.6%
14882$1,690−13.3%
14883$1,580−19.0%
14886$1,580−19.0%

Questions about ZIP 14850 rents

How much will Section 8 pay for a two-bedroom in ZIP 14850?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,709, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,538 to $1,880 a month; under the ZIP-level Small Area FMR of $1,950 it would be $1,755 to $2,145. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 14850 in?

ZIP 14850 is in the Ithaca, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,709.

How much did fair market rent change in ZIP 14850 for FY 2027?

The two-bedroom FMR rose 3.2%, from $1,890 in FY 2026 to $1,950 in FY 2027. Since FY 2023 it has risen 15.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentIthaca, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources