Location: Lewis County, NY | Metro: Lewis County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
A skeptical investor might raise several concerns regarding investing in ZIP 13305. Let's address these objections using available data.
Objection 1: Will Fair Market Rent (FMR) of $1,140 (metro FY 2026) cover the mortgage on a home in ZIP 13305?
The first issue is that we do not have specific data on the average home price in ZIP 13305. According to Zillow, there are currently no homes listed for sale in this zip code, which suggests a limited real estate market (source). Without knowing the average home price, it is impossible to accurately calculate the potential mortgage coverage. However, if an investor can secure a property below the typical mortgage threshold for this FMR, the rent could indeed cover the mortgage payments.
Objection 2: Is there enough renter demand at 17.4%?
The rental market in ZIP 13305 appears to be relatively small but active. Trulia lists 119 rental properties in the area, indicating a modest yet present demand for rentals (source). The 17.4% figure likely refers to the percentage of households that rent, which is lower than some urban areas but still represents a significant portion of the population. This suggests that while demand may not be as high as in densely populated regions, there is still a viable market for rental properties.
Objection 3: Will vouchers keep pace with market rents in ZIP 13305?
Data from the Housing Choice Voucher (HCV) program dashboard provided by HUD indicates that voucher programs are monitored and adjusted to reflect market conditions (source). However, the specific information for ZIP 13305 is not readily available. Given the national trend of adjusting vouchers to match market rents, it is reasonable to expect that the local HCV program will also adapt to ensure that voucher holders can afford the $1,140 FMR. Landlords should stay informed about any changes in voucher policies and amounts.
In conclusion, while some data points are missing or unclear, the existing information suggests that ZIP 13305 offers a niche but viable investment opportunity for those willing to carefully evaluate their options. The key will be finding properties that align with the expected rental income and staying abreast of any updates in housing voucher policies.
Data Sources: FMR data from HUD (2027). 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.