Location: Glens Falls, NY | Metro: Albany-Schenectady-Troy, 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 | $1,100 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $251,291 | 0.61% | D |
| 3BR | $1,840 | $314,526 | 0.59% | F |
| 4BR | $2,030 | $358,090 | 0.57% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12028, located in Buskirk, NY, within the Glens Falls, NY MSA, reveals several key points for potential landlords and small-portfolio investors. The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1240, whereas the market rent, according to Census ACS data, stands at $877. This discrepancy suggests that landlords may struggle to find tenants willing to pay the higher FMR, especially if the local market does not support such rates.
Moving on to the affordability of acquisition, the median home value in ZIP 12028 is $288,213. However, due to limited data on days on market (DOM) and the percentage of homes needing price cuts, it's challenging to determine the exact ease of acquiring properties. Investors should conduct further research into individual listings and negotiate effectively to ensure they're getting a fair deal.
Regarding tenant demand, the ZIP code has a total population of 1,557, with 10.9% of residents being renters. This relatively low renter share indicates that the pool of potential tenants might be smaller compared to more densely populated areas, which could impact occupancy rates and the speed at which units can be leased.
In conclusion, while the acquisition cost of homes in ZIP 12028 is clear, the high FMR relative to market rents and the modest renter share suggest that landlords will face challenges in both pricing their rentals competitively and finding enough tenants to fill units. Investors must carefully weigh these factors against their financial goals and risk tolerance before committing to the market in this ZIP code. The verdict is that the area presents opportunities but also significant hurdles that require thorough consideration and strategic planning.
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.