All homes and bedroom counts
RENTAL MARKET INTELLIGENCE
Cortland, NY
Cortland merits investigation by yield-focused buyers comfortable with flood due diligence; buyers needing strong migration support or low property-risk exposure should avoid it.
Median price$209k
Median rent$1,365
Gross yield7.8%
Job growth▲ 3.0%
Composite Market ScoreRank #14 of 571 scored US market areas
Direct rental answer
How much is rent in Cortland, NY?
Zillow's metro-wide Observed Rent Index is $1,365 per month for 2026-06-30. That is up 7.75% from a year earlier.
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Cortland
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Cortland County, NYFIPS 36023 | $954 | $960 | $1,198 | $1,510 | $2,010 |
The read
Why this market scores where it does
Cortland merits investigation by yield-focused buyers comfortable with flood due diligence; buyers needing strong migration support or low property-risk exposure should avoid it. Median value of $208,604 and asking rent of $1,365 imply a reported gross yield of 7.85%, while rents rose 7.75% year over year.
Opportunity comes from positive labor and constrained-building signals: LAUS jobs rose 3.03%, 26 permits were issued, and available inventory was 3.7 months. Affordability is mixed rather than uniformly strong: the price-to-income ratio is 2.96, but rent absorbs 23.25% of median income. Buyers should verify that achievable rents support the reported yield.
Risk sits outside the income story. Tax filings show net migration of -111 households, so employment and rent strength coexist with household outflow. Inland flood is the dominant hazard, and the climate loss ratio is 0.1593% of building value annually. Price cuts on 21.74% of listings also argue for disciplined bids rather than assuming sellers hold firm.
Frequently Asked Investor Questions
What do the current price and rent imply for gross income?
The record reports a $208,604 median home value, $1,365 median monthly asking rent, and 7.85% gross yield.
Is household movement supporting demand?
No. Tax filings show 970 households moved in and 1,081 moved out, for net migration of -111 households; average mover income was $54,536 inbound and $54,593 outbound.
How active is the purchase market?
The record shows 346 purchases, an 8.96% investor share, 35 median days on market, and price drops on 21.74% of listings.
Investor Quick Takeaways
Gross Yield: 7.8%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▲ 7.75%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 9.0%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Cortland as the starting point or move into a more specific property and rent check.
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Market pulse
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
Months of supply3.7 mo.▲ from 3.1 mo. a year ago
Median days on market35 days▼ from 44 days a year ago
Listings with price drops21.7%▲ from 21.4% a year ago
Sale-to-list ratio98.3%2026-05-01
Home value growth▲ 7.6%Zillow ZHVI · trailing 12 months
Rent growth▲ 7.75%Zillow ZORI · trailing 12 months
Gross rental yield7.8%Rent × 12 ÷ price
Payroll job growth▲ 3.0%LAUS · 12m to 2026-05
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady79→79
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
Composite breakdown
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
Published arithmeticComponent × weight = points
79| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 99 | 30% | 29.70 |
| Rent trend | 90 | 25% | 22.50 |
| Affordability | 59 | 15% | 8.85 |
| Supply pressure | 81 | 15% | 12.15 |
| Climate risk | 39 | 15% | 5.85 |
| Published score | 79 | ||
Cortland, NY scoreRank #14
79Job growth99/100
LAUS employment rose 3.03% -> the labor signal is positive, but net household migration does not confirm broader demand growth.
Rent trend90/100
Asking rent rose 7.75% and gross yield is 7.85% -> income metrics support further underwriting, but the $1,198 two-bedroom fair-market rent is below the $1,365 asking rent.
Affordability59/100
Rent equals 23.25% of median income and price equals 2.96 times income -> renter burden appears moderate, but purchase and rent affordability should be assessed separately.
Supply pressure81/100
The market recorded 26 permits, a 0.56-per-thousand permit rate, and 3.7 months of supply -> the building pipeline is limited, while buyers still have some resale inventory.
Climate risk39/100
Inland flood is the dominant hazard and the annual climate loss ratio is 0.1593% -> property-level flood exposure and insurance terms need verification.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$209k
YoY ▲ 7.6%
ZORI Median Rent
$1,365
YoY ▲ 7.75%
Gross Rental Yield
7.8%
Rent × 12 ÷ price
$1,365 × 12 ÷ $208,604
Job Growth (YoY)
▲ 3.0%
LAUS payrolls
Job signal 99/100
Median Household Income
$70k
Census ACS 5-year
Rent Burden
23.3%
Annual rent ÷ household income
Price-to-Income
3.0x
Median value ÷ household income
HUD 2BR Fair Market Rent
$1,198
Market rent 113.9% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark4 of 4 reported values
Zero-based scale$1,365Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$960−$405 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,198−$167 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$984−$381 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Cortland as context, then replace market-wide evidence with the candidate property's facts.
Supply pipeline
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
26 units authorised in 2026, 0% of them in 5+ unit buildings. This is a single-family building cycle, so the competition is other houses, not new apartments. ✓ recomputed from series
Who is arriving, and who is buying
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
Net Household Move
−111
970 in vs 1,081 out (IRS SOI)
▼ 11.4% of arriving households
Mover Income Gap
−$57
Arriving $54,536 vs leaving $54,593
Average AGI per tax return (IRS SOI)
Investor Purchase Share
9.0%
31 of 346 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.159% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Tompkins County · Onondaga County · Broome County · Cayuga County · Chenango County
✓ 970 in − 1,081 out = -111 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Ithaca, NY198 arriving
- Syracuse, NY125 arriving
- Binghamton, NY99 arriving
Leading outbound markets
- Ithaca, NY173 leaving
- Syracuse, NY165 leaving
- Binghamton, NY118 leaving
The other side
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- Tax filings show net migration of -111 households, so rent and job strength lack support from positive household inflow.
- Inland flood is the dominant hazard, and the annual climate loss ratio is 0.1593% of building value.
- The $1,365 median asking rent exceeds the $1,198 two-bedroom fair-market rent, creating rent-achievement risk if underwriting relies on the higher figure.
Inside this micro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
County records
Statistical peers
Market areas that behave like Cortland
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Cortland, NY (Target) | 79 | $209k | $1,365 | 7.8% | ▲ 3.0% |
| Carlsbad, NM | 68 | $254k | $1,600 | 7.6% | ▲ 2.4% |
| Sandusky, OH | 77 | $243k | $1,689 | 8.4% | ▲ 2.1% |
| Watertown, NY | 74 | $236k | $1,467 | 7.4% | ▲ 1.7% |
| Seneca, SC | 46 | $298k | $1,550 | 6.2% | ▲ 2.8% |
Provenance
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |