Location: Watertown-Fort Drum, NY | Metro: Watertown-Fort Drum, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
1360 is the Fair Market Rent (FMR) for ZIP code 13631 in fiscal year 2024, according to HUD standards. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for a unit in this area. Despite the lack of specific data on market rents, median home values, renter share percentages, median incomes, days on market (DOM), and price-cut shares, the FMR provides a solid benchmark for rental pricing. Landlords should ensure their rental units meet the quality standards required to participate in the Section 8 program to receive the guaranteed rent payments. The absence of detailed local real estate metrics makes it challenging to compare the FMR against the broader market, but it remains a reliable indicator for government-subsidized housing. For small-portfolio investors, understanding and adhering to these guidelines can streamline the process of renting to Section 8 participants. It's important to note that while the FMR sets a ceiling for rental rates, maintaining properties to a high standard is essential to attract and retain tenants. Additionally, landlords must be prepared to navigate the administrative requirements of the program, which can include regular inspections and documentation. Given the straightforward nature of the Section 8 program and the clear rental rate cap, landlords in ZIP 13631 should find it relatively simple to integrate Section 8 tenants into their investment strategy. Participation can offer a stable source of income, especially in areas where other metrics are unavailable or unreliable. The one-line Section 8 verdict for ZIP 13631 is: Participation in the Section 8 program offers a predictable income stream at a fixed rate of $1360 per month.
Data Sources: FMR data from HUD (2027).
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.