Location: Lewis County, 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 | $980 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,720 |
| 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 | $197,805 | 0.64% | D |
| 3BR | $1,720 | $229,556 | 0.75% | D |
| 4BR | $2,110 | $250,584 | 0.84% | C |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 13626, which covers Copenhagen, NY, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area is set at $1160 for fiscal year 2024, while the Census ACS reports the market rent at $952. This means there is a $208 difference, or approximately a 21.9% gap, favoring landlords who accept Section 8 vouchers.
The higher FMR compared to the market rent makes voucher tenants an attractive option for landlords and small-portfolio investors. Specifically, voucher tenants can provide a more stable rental income because the government guarantees payment up to the FMR. In Copenhagen, NY, where only 22.5% of residents are renters and the median home value stands at $200,509, the demand for affordable rental housing is relatively low. However, the median income in the area is $64,495, indicating that many residents may struggle to afford market-rate rents.
By accepting Section 8 vouchers, landlords can fill vacancies with tenants who are guaranteed to pay the higher FMR rate. This creates a yield play scenario where landlords can charge more than what the local market would typically bear. It's important to note that while the FMR provides a higher rent ceiling, the cost of housing voucher tenants also includes administrative overhead and compliance with HUD regulations. These costs must be factored into the overall investment strategy to ensure profitability.
In conclusion, the gap between the FMR and market rent in Copenhagen, NY, presents a clear opportunity for landlords to increase their rental income by accepting Section 8 vouchers. This can be particularly beneficial in an area where the median income is lower, and the median home value is higher, making it difficult for some residents to find affordable housing without assistance.
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.