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 | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $101,579 | 0.99% | C |
| 3BR | $1,210 | $140,329 | 0.86% | C |
| 4BR | $1,340 | $148,184 | 0.9% | C |
U.S. Census Bureau data (2024)
The rent math in ZIP code 13667, located in Norfolk, NY within the St. Lawrence County, NY metro area, does not align favorably. The Fair Market Rent (FMR) set at $1,010 for fiscal year 2026 contrasts sharply with the actual market rent, which stands at $823 according to the latest Census ACS data. This discrepancy suggests that landlords might struggle to cover costs if they rely on the FMR to set their rental rates.
Acquisition appears to be relatively affordable for potential investors. The median home value in the area is $113,919, indicating that homes are priced at a level that could support a reasonable investment strategy. However, the lack of data on days on market (DOM) and the percentage of homes sold with a price cut means that we cannot fully assess how quickly homes sell or at what price point.
Tenant demand is present but limited. With a total population of 3,476, nearly 29.4% of residents are renters. This implies a pool of approximately 1,024 tenants, suggesting that there is enough demand to sustain rental properties. Yet, the size of the market and the population's economic profile must be considered to gauge the sustainability of this demand.
Verdict: While the low median home value makes acquisition financially feasible, the mismatch between the FMR and the actual market rent poses a challenge for achieving profitability. Tenant demand exists but is constrained by the small population size. Investors should proceed cautiously, ensuring they can manage costs effectively and attract tenants in a competitive yet limited market.
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.