Location: St. Lawrence County, NY | Metro: St. Lawrence 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 | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $160,786 | 0.71% | D |
| 3BR | $1,360 | $198,446 | 0.69% | D |
| 4BR | $1,500 | $237,567 | 0.63% | D |
| 5BR | $1,740 | $248,117 | 0.7% | D |
U.S. Census Bureau data (2024)
37.2% of residents in ZIP 13617 (Canton, NY) are renters, indicating a significant portion of the population relies on rental housing. The $886 market rent, according to the Census ACS, is notably lower than the $1,240 Fair Market Rent (FMR) set for the metro area in fiscal year 2026. This suggests that landlords could potentially increase their rents to align closer with the FMR without losing tenants, given the current demand. However, investors should be cautious; the median income of $71,663 might limit how much rent can realistically be charged before becoming unaffordable for local residents.
The median home value stands at $185,776, which is a stable figure for property owners and could provide a good basis for investment. While the data does not specify the average days on market (DOM) or the percentage of price-cut shares, these missing details could imply a steady housing market with little fluctuation in pricing strategies. Investors should verify this through additional research, such as contacting local real estate agents or reviewing recent sales data.
Given the disparity between the market rent and the FMR, and considering the median income, it's evident that there is an opportunity for landlords to adjust their rental prices upwards. However, they must ensure that the new rates remain within the affordability range of the majority of Canton's residents. The Section 8 program, with its fixed payment standards, can help stabilize cash flows for landlords who participate, especially in areas where the market rent is below the FMR.
In conclusion, the current data supports a positive outlook for landlords and small-portfolio investors in Canton, NY, particularly those interested in the Section 8 program. With the potential to raise rents towards the FMR and a steady median home value, the market appears favorable for those willing to engage with the program's requirements.
Verdict: Section 8 participation is advisable for landlords looking to stabilize income in Canton, NY.
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.