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 | $307,399 | 0.41% | F |
| 3BR | $1,730 | $323,346 | 0.54% | F |
| 4BR | $2,110 | $386,423 | 0.55% | F |
| 5BR | $2,448 | $679,340 | 0.36% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 13624 in Clayton, NY, Jefferson County, reveals that the HUD Fair Market Rent (FMR) of $1130 for FY 2024 is slightly higher than the reported market rent of $1,088 based on Census ACS data. This suggests that voucher tenants can generally achieve positive cash flow at the FMR rate without needing to rely on premium units. The median home value in this area stands at $310,974, which translates into a rent-to-price ratio of approximately 0.4%. This low ratio indicates that rental income is modest relative to property values, but it also implies that the market is relatively stable, with less pressure on rental rates due to high home ownership costs.
Given the data on days on market (DOM) and price-cut shares, which are both listed as N/A, we can infer that there isn't significant fluctuation in the housing market that would impact the decision between renting and buying. However, the absence of these figures means that investors must rely more heavily on other indicators such as the FMR and market rent comparison.
The strongest angle for Section 8 investors in ZIP 13624 is cash flow, as the HUD FMR exceeds the market rent, allowing for positive cash flow without the need for premium units. Stability is also a key factor, given the low rent-to-price ratio, which suggests that property values are unlikely to experience rapid changes, providing a consistent investment environment.
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.