Location: St. Lawrence County, NY | Metro: Watertown-Fort Drum, NY MSA
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 | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,720 | $188,220 | 0.91% | C |
| 4BR | $2,110 | $173,628 | 1.22% | A |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 13608 reveals several key points that should inform investment decisions. The HUD Fair Market Rent (FMR) for ZIP 13608 is set at $1100 for fiscal year 2024. This figure is significantly higher than the reported market rent of $779, based on Census American Community Survey (ACS) data.
The disparity between the HUD FMR and the actual market rent indicates that voucher tenants will generally cashflow at the FMR rate. This means that landlords can expect a positive cash flow when renting to Section 8 tenants, as the voucher amount exceeds the typical market rent in this area. However, it's important to note that the cashflow potential is contingent upon the condition and location of the rental property; premium units might command higher rents but are still likely to cashflow given the FMR.
The median home value in ZIP 13608 is $155,639. To derive the rent-to-price ratio, we divide the median market rent ($779) by the median home value ($155,639), which gives us approximately 0.5%. This low rent-to-price ratio suggests that the housing market in this area is relatively stable, with rents not being a significant factor in driving home values.
Note that the median Days on Market (DOM) and the percentage of homes that experienced price cuts are not applicable (N/A) in this context. However, these metrics would be relevant if analyzing the buy versus rent dynamics in the area. Given the current data, the most compelling angle for investors in ZIP 13608 is the strong potential for positive cashflow from Section 8 tenants, due to the high FMR compared to the market rent.
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.