Location: Watertown-Fort Drum, 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 | $1,730 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,270 | $186,031 | 0.68% | D |
| 3BR | $1,730 | $245,690 | 0.7% | D |
| 4BR | $2,110 | $295,377 | 0.71% | D |
U.S. Census Bureau data (2024)
ZIP code 13612, located in Black River, NY within the Watertown-Fort Drum, NY MSA, presents an interesting mix of metrics when compared to the typical ZIP codes within its metro area. The Fair Market Rent (FMR) for ZIP 13612 in fiscal year 2024 is set at $1100, which is higher than the market rent of $922. This suggests that the subsidized rental rates are above what the market typically offers, potentially making it attractive for Section 8 tenants.
The median home value in ZIP 13612 stands at $236,038, which is notably lower than the average home value found in other ZIP codes within the Watertown-Fort Drum, NY MSA. This indicates that 13612 could be considered a value pocket within the larger metro area, offering homeownership opportunities at a lower price point.
The renter share in ZIP 13612 is 27.2%, which is slightly above the average renter share seen in typical ZIP codes within the same MSA. Given the combination of a higher FMR and a below-average home value, this ZIP code might represent a sweet spot for Section 8 investments. Landlords and small-portfolio investors can capitalize on the higher subsidized rents while benefiting from relatively lower property acquisition costs.
To summarize, ZIP 13612 appears to be a value pocket within the Watertown-Fort Drum, NY MSA. It offers a unique opportunity where the FMR exceeds the market rent, and the home values are below the metro average. This makes it particularly appealing for those interested in Section 8 properties, as it balances the potential for stable rental income with more affordable property prices.
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.