Location: Clinton County, NY | Metro: Clinton County, NY
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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $180,690 | 0.65% | D |
| 3BR | $1,400 | $225,609 | 0.62% | D |
| 4BR | $1,580 | $274,110 | 0.58% | F |
U.S. Census Bureau data (2024)
Investing in Section 8 properties in ZIP code 12918 in Cadyville, NY, presents several challenges that must be carefully considered. First, tenant turnover can be problematic due to the discrepancy between market rent and the Fair Market Rent (FMR) set by the government. The FMR for the area is $1,230, but without specific market rent data, it's unclear how competitive this rate is. High turnover rates can lead to increased costs associated with finding new tenants and maintaining the property.
Vacancy exposure is another significant risk. The average days on market (DOM) for rental listings is not available, which makes it difficult to predict how long a unit might remain vacant. In a market where vacancies are common, this could result in prolonged periods without rental income, putting financial strain on the landlord.
The deferred-maintenance exposure is also noteworthy. With a typical home value of $208,150 and a median household income of $91,951, residents may struggle to afford necessary repairs and maintenance. This could translate into higher-than-average maintenance costs for landlords, especially if tenants are slow to report issues or lack the funds to contribute to upkeep.
However, these risks are somewhat mitigated by the high concentration of renters in the area. A 7.0% renter share suggests that there is a substantial demand for rental housing, which often correlates with higher demand for Section 8 vouchers. This could mean a steady stream of qualified applicants who are committed to paying their rent through the voucher program, reducing the likelihood of prolonged vacancies.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP code 12918 in Cadyville, NY, is moderate. While there are potential pitfalls related to tenant turnover and maintenance costs, the high renter density provides a solid foundation for demand stability.
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.