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 | $830 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $224,703 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 13473 presents a dynamic rental market with specific characteristics that offer insights into its current state and potential future trends. The Fair Market Rent (FMR) for the area is set at $1,190, which reflects the federal guidelines for the metro area's fiscal year 2026. This figure is notably higher than the actual market rent, which stands at $800 according to Census ACS data. This discrepancy suggests that the rental market in 13473 is currently experiencing downward pressure, indicating that the supply of rental properties might be outpacing demand.
The median home value in the ZIP code is $183,859. While this provides a snapshot of the overall housing market, it does not directly indicate the rental market's dynamics. However, when combined with the lower market rent compared to the FMR, it points to a situation where landlords may need to adjust their rents to attract tenants. The lack of data on price-cut share and days on market (DOM) makes it challenging to quantify the exact level of competition among landlords, but the lower-than-guideline rent prices imply a competitive environment.
A key metric in understanding the rental market is the renter share, which is reported at 1.9% for ZIP 13473. This low percentage suggests that the majority of residents in the area prefer homeownership over renting. Such a preference can contribute to long-term housing pressures, as it indicates a limited pool of renters relative to the number of homes available. Over time, this could mean that landlords face challenges in maintaining occupancy rates if the trend towards homeownership continues.
In summary, ZIP 13473 is characterized by a rental market where supply seems to exceed demand, reflected in the lower market rent compared to the FMR. The low renter share further underscores the prevalence of homeownership in the area, which could pose ongoing challenges for landlords looking to sustain their rental operations. These dynamics highlight the importance of strategic pricing and property management practices to navigate the current market conditions effectively.
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.