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 | $910 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $255,911 | 0.51% | F |
| 3BR | $1,780 | $281,233 | 0.63% | D |
| 4BR | $2,130 | $305,284 | 0.7% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13622, which includes Chaumont, NY, is set at $1300 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, meaning the government will pay up to $1300 per month for a rental unit in this area. It's important to note that this is not your rent; it's the maximum amount the voucher can cover.
In comparison, the average rent in Chaumont, NY, based on Census American Community Survey (ACS) data, is $907. This suggests that the FMR is higher than the typical market rate, which can be beneficial for landlords participating in the Section 8 program. The difference between the FMR and the local average rent means you could potentially receive more than what most tenants in the area are paying.
The renter share in Chaumont, NY, is 7.3%, indicating a moderate demand for rental properties. While this percentage might seem low, it still translates into a significant number of potential tenants looking for affordable housing options. The FMR ensures that landlords can charge a reasonable rent without pricing out those who rely on vouchers.
If you're considering purchasing a property to rent through the Section 8 program, the median home value in the area is around $243,010. This figure reflects the typical price you would pay to acquire a property suitable for Section 8 rentals. Given the FMR and the local average rent, this investment could provide a steady income stream, especially if you focus on maintaining the property to meet Section 8 standards.
Before proceeding with a Section 8 rental in Chaumont, NY, ensure that your property meets all the necessary requirements for the program. This includes passing a Housing Quality Standards (HQS) inspection, which verifies that the property is safe, decent, and sanitary. Once you confirm that your property meets these standards, you can confidently move forward with the application process.
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.