Location: Lewis County, NY | Metro: Lewis 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 | $740 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $166,473 | 0.61% | D |
| 3BR | $1,410 | $212,457 | 0.66% | D |
| 4BR | $1,600 | $232,040 | 0.69% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP code 13343 (Glenfield, NY, part of the Lewis County, NY metro area) does not favor landlords. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $970, while the current market rent based on Census ACS data stands at $852. This discrepancy means that landlords might struggle to charge the FMR without losing tenants to more competitive pricing.
Acquisition is relatively affordable given the median home value of $176,986. However, the lack of available data on days on market (DOM) and the percentage of homes requiring price cuts makes it difficult to assess the overall market liquidity and seller's flexibility. Landlords should proceed with caution, considering the limited insights into the local housing market dynamics.
Tenant demand in Glenfield is low due to its small population size of 1,606 and a modest 10.5% renter share. With such a limited pool of potential renters, competition among landlords could be intense, leading to challenges in maintaining occupancy rates.
Overall, ZIP code 13343 presents a challenging environment for landlords and small-portfolio investors. The mismatch between FMR and actual market rents suggests difficulty in achieving desired rental income levels. While the median home value indicates an affordable entry point, the lack of detailed market data introduces uncertainty. Additionally, the low tenant demand and small renter population pose significant risks to sustaining a profitable investment. Potential investors must carefully weigh these factors before committing to real estate acquisitions in this area.
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.