Rental housing market is tight near Fort Drum

It's a tight rental market around Fort Drum compared to similar size areas, Kevin J. Jordan, director of project development for the Development Authority of the North Country, told members of the Fort Drum Regional Liaison Organization Thursday. Jefferson County has a 2 percent to 4 percent vacancy rate in its rental stock, he said.

"The typical market has a 5 to 7 percent vacancy rate. So things are pretty tight out there right now."

Mr. Jordan told FDRLO members during their quarterly meeting that the Development Authority surveys owners of about 3,500 rental units within a 20-mile radius of Fort Drum monthly. Those developers said that while there is an abundance of two-bedroom units in the area, a large demand exists for three- and four-bedroom units.

Mr. Jordan said DANC is still studying the effect military "churn" has on rental housing.

Carl A. McLaughlin, executive director of FDRLO, said the organization and Fort Drum are working to identify the major variables, including the military population, affecting vacancy rates.

"Over time, we're trying to determine if this is something that will stabilize or if it will become a norm in the market," Mr. Jordan said.

Also at the meeting, FDRLO elected to two-year terms Chairwoman Elizabeth C. Fipps, Vice Chairman Kevin T. Mastellon, Treasurer Mary M. Corriveau and Secretary Thomas H. Carman.

Elected to three-year terms on the board of directors were John J. "Jay" Boak Jr., Carole A. McCoy, Robert F. Hagemann III, Terrence L. Roche, Mr. Jordan and David J. Zembiec.