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 | $1,130 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $374,790 | 0.35% | F |
| 3BR | $1,560 | $484,749 | 0.32% | F |
| 4BR | $1,710 | $662,291 | 0.26% | F |
| 5BR | $1,984 | $950,093 | 0.21% | F |
U.S. Census Bureau data (2024)
The ZIP code 12037, encompassing Chatham, NY, stands out within Columbia County due to its unique demographic and economic characteristics. With a population of 3,926 residents, 27.8% of whom are renters, the area has a median household income of $89,844. This relatively high income figure contrasts with a rental rate that is below the national average, indicating a community that leans towards homeownership. Indeed, the median home value in Chatham is quite substantial at $484,852, further supporting this trend.
When it comes to Section 8 voucher economics, the Federal Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,260. However, the actual market rent, according to the Census ACS, is significantly lower at $1,067. This discrepancy means that landlords participating in the Section 8 program in Chatham can expect to receive higher rents through vouchers compared to the local market rates, potentially making the program more attractive for property owners looking to secure stable tenants.
Given the data signature of ZIP 12037, it reads as "stable." The combination of a moderate rental percentage and a strong median income suggests a community where most residents can afford their housing costs without relying heavily on rental assistance. Additionally, the high median home value indicates a robust real estate market, which supports the notion of stability in the area's housing sector.
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.