Location: Lewis County, NY | Metro: Watertown-Fort Drum, NY MSA
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 | $1,090 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,140 | $272,787 | 0.78% | D |
U.S. Census Bureau data (2024)
ZIP 13682, located in Lewis County, NY, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) set by HUD for fiscal year 2024 and the actual market rent levels.
The FMR for ZIP 13682 is $1,440, while the market rent is approximately $950. This means that landlords can secure a higher rental income through Section 8 vouchers compared to what they might achieve in the open market. The difference translates into a strong positive cash flow, making ZIP 13682 an attractive location for landlords looking to stabilize their income streams.
The median home value in ZIP 13682 is $233,544, indicating that properties are affordable for both investors and tenants. This affordability supports the cash-flow anchor role, as it suggests a lower barrier to entry for potential residents who qualify for Section 8 assistance.
While the renter share stands at 18.8%, and the median income is $79,821, these factors do not significantly impact the cash-flow anchor designation. The primary driver for this classification is the favorable rent differential, which ensures steady and reliable income.
To summarize, ZIP 13682 serves as a cash-flow anchor due to the substantial gap between the HUD-specified FMR and the local market rents. This allows landlords to benefit from higher guaranteed incomes, providing a solid foundation for their investment portfolios.
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.