Location: Montgomery County, NY | Metro: Montgomery County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,120 for ZIP 12069 can cover the mortgage on a typical home. Median home prices in this area have varied between $99,900 and $174,236 over the last year, according to recent data. To determine if the FMR will cover the mortgage, we must consider the average mortgage payment based on these prices. However, specific mortgage figures are not available in the current data, making it challenging to provide a definitive answer. Still, given the relatively low home prices, it's likely that a mortgage payment would be manageable.
The same investor could also argue that there isn't sufficient renter demand at a 0.0% vacancy rate. Unfortunately, the data does not provide a precise vacancy rate for ZIP 12069. But, the lack of available rental data suggests that the rental market is tight, indicating strong demand. While a 0.0% vacancy rate is unlikely, the scarcity of rental listings implies a competitive market where demand meets supply closely.
A final concern might be whether vouchers will keep pace with the local market rents. In ZIP 12069, the median home value is $148,900, and the median monthly rent is not explicitly stated in the available data. However, the Fair Market Rent (FMR) is set at $1,120 for the metro area in fiscal year 2026. Vouchers are adjusted annually to reflect changes in the local housing market, but the exact figure for ZIP 12069 is not provided. Given the national trend of increasing housing costs, it's reasonable to expect that voucher amounts will rise to meet the growing market rents, though the exact pace remains unclear without more specific data.
Data Sources: FMR data from HUD (2027). 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.