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 | $1,030 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,030 | $229,525 | 0.88% | C |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 13616 within the Watertown-Fort Drum, NY MSA reveals several key insights. The HUD Fair Market Rent (FMR) for ZIP 13616 is set at $1340 for fiscal year 2024. This figure is slightly higher than the market rent reported by the Census American Community Survey (ACS), which stands at $1306. Given these numbers, voucher tenants will generally cashflow at the HUD FMR rate, providing a modest but positive financial benefit to landlords.
To further understand the investment potential, consider the median home value in ZIP 13616, which is $212,849. Using the HUD FMR of $1340, we can calculate a rent-to-price ratio of approximately 7.7%. This ratio indicates that rental income represents a significant portion of the property's value, making it an attractive option for investors seeking steady cash flow.
The dynamics of the local housing market also play a role in investment decisions. However, the data does not provide a median Days on Market (DOM) or a percentage of price cuts, which would be relevant for assessing how quickly homes sell and the frequency of price reductions. In the absence of these metrics, the focus remains on the strong cash flow potential offered by the current HUD FMR and market rent conditions.
The strongest investor angle in ZIP 13616 is cash flow, given the favorable HUD FMR relative to market rents and the high rent-to-price ratio. This makes it an ideal location for investors looking to generate consistent monthly income from their properties.
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.