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 | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $149,582 | 0.7% | D |
| 3BR | $1,240 | $162,078 | 0.77% | D |
| 4BR | $1,370 | $161,249 | 0.85% | C |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 13654, centered around Heuvelton, NY, is built upon a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,070, whereas the Census ACS reports an average market rent of $588. This means that the FMR is $482 higher than the market rent, representing a 82% premium.
The substantial difference between these figures makes Heuvelton a compelling yield play for landlords and small-portfolio investors. Voucher tenants, under the Section 8 program, can offer a stable and predictable income stream that aligns with the higher FMR rates. Given the low percentage of renters (14.8%) in Heuvelton, there is a limited supply of rental properties, which could lead to increased demand for those accepting vouchers.
In this context, the median home value stands at $140,785, while the median income is $74,125. These economic indicators suggest that homeownership might be out of reach for many residents, further supporting the potential for rental growth, especially for those relying on housing assistance.
Landlords who accept Section 8 vouchers in Heuvelton can expect to receive the full FMR amount, which is considerably higher than the current market rate. This not only ensures a better financial return but also helps stabilize the local rental market. The gap between FMR and market rent is so wide that it compensates for any administrative overhead associated with managing voucher tenants.
To summarize, the thesis in ZIP 13654 is that the premium offered by the Section 8 program over the local market rent creates a lucrative opportunity for landlords. By accepting voucher tenants, landlords can achieve a higher yield on their investments, leveraging the 82% premium to secure a steady and reliable income source that surpasses the typical rental market in Heuvelton.
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.