Location: Montgomery County, NY | Metro: Montgomery 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 | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $218,467 | 0.51% | F |
| 3BR | $1,360 | $259,102 | 0.52% | F |
| 4BR | $1,490 | $268,058 | 0.56% | F |
U.S. Census Bureau data (2024)
The analysis for Fultonville, NY, located in ZIP code 12072, reveals a significant gap between the Fair Market Rent (FMR) set at $1,160 for the fiscal year 2026 and the actual market rent reported at $916 according to the Census ACS data. This discrepancy amounts to a difference of $244, or approximately 26%, which clearly demonstrates that the FMR exceeds the market rent.
This situation makes Fultonville an attractive location for landlords and small-portfolio investors seeking to maximize yields through Section 8 vouchers. Despite the lower market rents, landlords can receive a higher payment of $1,160 per unit from the government, thus increasing their profitability. The higher FMR ensures that voucher holders can afford to live in properties valued at the market rate, without placing financial strain on landlords.
In the context of Fultonville, NY, where only 11.6% of residents are renters, and the median home value stands at $239,555, it's evident that the rental market is relatively small compared to homeownership. However, the median household income of $81,063 suggests that there is a segment of the population that might benefit from affordable housing options, making Section 8 vouchers particularly relevant for this area.
Landlords should note that while the FMR provides a higher rental income than the current market rate, they must still maintain their properties to meet the standards required for Section 8 participation. Additionally, the management of voucher tenants requires adherence to federal guidelines and regulations, which can be more stringent than managing open-market tenants.
In summary, the gap between FMR and market rent in ZIP 12072 presents a yield opportunity for landlords and small-portfolio investors in Fultonville, NY. By participating in the Section 8 program, they can secure a higher rental income, thereby improving their investment returns, despite the relatively low percentage of renters and high median home values in the area.
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.