Section 8 Fair Market Rent (FMR) for ZIP 13638 - 2027

Location: Watertown-Fort Drum, NY | Metro: Watertown-Fort Drum, NY MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$880
1 Bedroom	$970
2 Bedrooms	$1,270
3 Bedrooms	$1,740
4 Bedrooms	$2,110
5 Bedrooms	$2,448
6 Bedrooms	$2,742
7 Bedrooms	$2,961
8 Bedrooms	$3,109

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

157

Median Household Income

$62,955

Housing Units

Renter Percentage

41.7%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 13638, located in Oneida County, New York, offers a unique blend of rural charm and access to urban amenities. This area is characterized by its affordable housing options and a significant portion of renters, making it an attractive market for real estate investors looking to capitalize on rental opportunities.

The Fair Market Rent (FMR) for a 2-bedroom apartment in ZIP 13638 for fiscal year 2024 is set at $1120. This figure represents the benchmark for rental prices supported by government programs, including Section 8.
The median home value in ZIP 13638 is $161,409, indicating that the area is relatively inexpensive compared to other parts of New York State, offering good potential for property appreciation.
Renters make up 41.7% of the population, suggesting a strong demand for rental properties in the area.
The median household income in the region is $62,955, providing insight into the economic stability of potential tenants and their ability to pay consistent rent.
While the exact days on market (DOM) for rental listings is not available, the combination of low home values and high renter share suggests quick turnover and occupancy for rental properties.
The lack of data on market rents implies that the local rental market may not be extensively tracked, which could mean less competition and more opportunities for savvy investors to establish a foothold.

In summary, ZIP 13638 presents a favorable environment for real estate investment, particularly in the rental sector. The low median home value and high renter share indicate a robust demand for affordable rentals, while the established FMR provides a clear guideline for pricing. The median income level supports the financial health of potential tenants, ensuring steady cash flow. Despite the absence of certain metrics, the overall picture suggests that this area can offer solid returns on investment for those willing to engage in the local rental market.

Data Sources: FMR data from HUD (2027). 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.