Location: Greene County, NY | Metro: Greene 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 | $960 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,760 | $360,315 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 12058 presents a dynamic rental market with distinct characteristics that offer insights into the balance between supply and demand. The Fair Market Rent (FMR) for the area is set at $1,280 for fiscal year 2026, indicating the benchmark rate established by HUD for determining eligibility for rental assistance programs. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $792. This suggests that the market is currently pricing rentals below the FMR, possibly due to an oversupply of units or a higher level of affordability compared to surrounding areas.
The median home value in ZIP 12058 is $345,355, which is a significant figure for potential homeowners and investors alike. Despite the median home value, the renter share of the population is noteworthy at 13.7%. This percentage indicates a segment of the population that prefers or needs to rent rather than own homes, which can create ongoing housing pressure in the area. The relatively low market rent compared to the FMR suggests that landlords and small-portfolio investors could benefit from increasing rents gradually to align with the FMR, as the current rates might not fully reflect the true value of the properties.
While the data on price-cut share and days on market (DOM) is not available, the discrepancy between the FMR and the market rent implies that there may be a surplus of rental units, allowing some flexibility in pricing. However, the consistent presence of renters at 13.7% of the population suggests a steady demand for rental properties. This balance means that while there might be some competition among landlords, the market remains viable for those willing to invest in property improvements or strategic pricing adjustments.
In summary, ZIP 12058 is a market characterized by a gap between the FMR and actual market rents, suggesting potential opportunities for upward adjustment. The renter share indicates a stable demand, but also points to long-term housing pressure as renters continue to form a significant portion of the population. For landlords and small-portfolio investors, understanding these dynamics is crucial for making informed decisions about pricing and investment strategies.
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.