Location: St. Lawrence County, NY | Metro: St. Lawrence County, NY
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 | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $139,813 | 0.82% | C |
| 3BR | $1,360 | $137,987 | 0.99% | C |
U.S. Census Bureau data (2024)
Hermon, NY, with a ZIP code of 13652, is a small community with a population of 2,067 residents. Approximately 22.8% of these residents are renters, indicating a modest demand for rental properties. The median household income in Hermon is $67,946, which places it in a middle-income bracket compared to national standards. The median home value is $119,399, suggesting that homeownership is relatively affordable in this area.
From an investment perspective, the Federal Market Rent (FMR) for ZIP 13652 is set at $1,120 for the metro fiscal year 2026. This figure contrasts with the current market rent, which stands at $934 according to the Census American Community Survey (ACS). The discrepancy between the FMR and the market rent highlights a potential opportunity for landlords and small-portfolio investors who can capitalize on the higher reimbursement rates offered by the Section 8 program.
The difference between the FMR and the market rent means that landlords participating in the Section 8 program can achieve a higher net income per unit than those renting at market rates. For instance, if a landlord charges the FMR of $1,120, they would receive a subsidy that covers the gap between this amount and the market rate of $934, effectively increasing their cash flow without significantly raising the rent paid by tenants.
In terms of the type of investor suited to this market, both hands-off voucher operators and hands-on value-add buyers could find success in Hermon. However, given the modest rental market and the relatively low median income, hands-off operators might be better positioned to manage the portfolio with minimal active involvement. These investors can rely on the Section 8 program's stability and predictable income to generate returns.
On the other hand, hands-on value-add buyers have the potential to create additional value by improving property conditions and amenities, thereby attracting tenants willing to pay closer to the FMR. This strategy requires more effort but could yield higher returns over time, especially if the improvements lead to increased occupancy rates and reduced turnover costs.
Overall, the ZIP code 13652 presents a balanced investment opportunity, offering both passive and active investors the chance to benefit from the Section 8 program while serving a community that values affordable housing options.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.