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 | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $128,117 | 0.85% | C |
| 3BR | $1,300 | $160,767 | 0.81% | C |
| 4BR | $1,430 | $158,902 | 0.9% | C |
U.S. Census Bureau data (2024)
The ZIP code 13668, located in Norwood, NY, presents a dynamic rental market influenced by current trends and conditions. The Fair Market Rent (FMR) for the area is set at $1,160 for fiscal year 2026, indicating a benchmark that reflects the rental costs deemed reasonable by HUD. In contrast, the actual market rent stands at $790 according to the latest Census American Community Survey (ACS) data, suggesting a gap between government estimates and real-world pricing.
This disparity between FMR and market rent could imply that the supply of rental units exceeds demand, allowing landlords to offer competitive rates. However, the 16.5% share of renters in the area also points towards significant long-term housing pressure. With a smaller proportion of residents renting, it's likely that homeownership remains the preferred option, but the median home value of $140,553 might deter potential buyers, thereby maintaining a steady demand for rentals.
The lack of specific data on price-cut share and days on market (DOM) makes it challenging to assess short-term fluctuations in the housing market. Nonetheless, the current median home value suggests that while the area isn't experiencing rapid appreciation, it still offers an affordable entry point for those seeking to purchase. For landlords and small-portfolio investors, the lower market rent compared to FMR indicates a cautious approach is necessary to balance affordability with profitability.
The rental market dynamics in Norwood, NY, suggest a delicate equilibrium. Landlords must be mindful of setting rents that attract tenants without sacrificing profit margins. Given the median home value and the relatively low market rent, there's an opportunity to position rental properties competitively, ensuring occupancy rates remain stable. Investors should consider the long-term implications of the 16.5% renter share, which signals ongoing housing pressure and the potential for rental demand to increase as more residents find homeownership less attainable.
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.