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 | $770 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $153,504 | 0.68% | D |
| 3BR | $1,450 | $170,338 | 0.85% | C |
| 4BR | $1,650 | $157,368 | 1.05% | B |
U.S. Census Bureau data (2024)
The dynamics of the real estate market in ZIP 13433, Port Leyden, NY, reveal a snapshot indicative of a market in motion. The Fair Market Rent (FMR) for the area stands at $1010 for the fiscal year 2024, while the actual market rent, as reported by the Census American Community Survey, is significantly lower at $730. This suggests that there is an opportunity for landlords to potentially increase rents closer to the FMR without alienating tenants.
The median home value in Port Leyden is $146,080, which is relatively low compared to many other areas in New York State. This figure implies that homeownership might be more accessible here, but it also raises questions about the overall value appreciation potential. With limited data on price-cut shares and days on market (DOM), it's challenging to definitively state whether supply outpaces demand or vice versa. However, the gap between FMR and market rent indicates that demand could be outpacing supply, as landlords are already pricing below the fair market rate to attract tenants.
A noteworthy statistic is the 27.1% renter share of the population. This percentage suggests that a significant portion of the community relies on rental properties, indicating ongoing long-term housing pressure. High renter share percentages can signal a steady need for rental units, which benefits landlords and small-portfolio investors. It also means that any changes in local employment or economic conditions could have a substantial impact on the rental market.
In conclusion, the market in ZIP 13433 appears to be characterized by a balance of accessibility and potential for growth. Landlords and investors should consider the current rent levels relative to the FMR, the low median home value, and the high renter share as key factors in their decision-making process. These elements suggest a dynamic environment where careful management and strategic investment can yield positive returns.
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.