Location: Columbia County, NY | Metro: Columbia 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 | $1,350 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,050 | $679,606 | 0.3% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,590 for ZIP Code 12017 (Austerlitz, NY) can sufficiently cover the mortgage on a home valued at $680,132. To address this concern, let's consider the average mortgage payments. Although the specific mortgage payment data for a $680,132 home isn't provided, the median home value in this ZIP Code is significantly lower at $196,500. This suggests that the typical mortgage payment would be less than what would be required for a $680,132 home, making it challenging to assess the exact coverage without further details.
Another objection could be the low rental demand indicated by the 10.8% rental occupancy rate. However, the data shows that the rental vacancy rate in ZIP Code 12017 is 0.0%, which is much lower than the national average of 6.0%. This indicates strong rental demand despite the low percentage of units being rented out. It's important to note that the rental vacancy rate does not directly correlate with the rental occupancy rate; the former measures how many units are vacant among all available rental properties, while the latter reflects the proportion of rented units.
The final concern might be whether voucher usage will keep pace with market rents of $1,583. Unfortunately, the data provided does not include specific information on voucher usage or trends in ZIP Code 12017. While we know the median rent is $0 in this area, which seems unusual and likely requires additional context, it's crucial to monitor local housing authority reports and federal funding allocations to gauge future support for voucher programs.
In summary, while the FMR of $1,590 may not fully cover the mortgage on a $680,132 home, the strong rental demand indicated by the zero rental vacancy rate suggests a robust market. The lack of data on voucher usage means caution is warranted when assessing long-term rental stability, but the current rental environment appears favorable.
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.