Location: Fulton County, NY | Metro: Fulton 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 | $790 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $830 | $129,719 | 0.64% | D |
| 2BR | $1,080 | $163,261 | 0.66% | D |
| 3BR | $1,290 | $193,190 | 0.67% | D |
| 4BR | $1,470 | $216,410 | 0.68% | D |
| 5BR | $1,705 | $245,863 | 0.69% | D |
U.S. Census Bureau data (2024)
ZIP 12078, located in Gloversville, NY, within the Fulton County, NY metro area, presents itself as a solid cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the $1,100 metro area in fiscal year 2026 is significantly higher than the local market rent of $911, providing a spread that benefits landlords participating in the Section 8 program.
The median home value in ZIP 12078 stands at $170,574, which is relatively low compared to many other areas. This makes it easier for landlords to acquire properties at a reasonable cost, thereby increasing their potential profitability. With a guaranteed rent through the Section 8 voucher program, landlords can count on a steady income stream that exceeds the typical market rent, ensuring positive cash flow from these properties.
While the area does not offer significant appreciation potential, with a price-cut share of only 0.2% and a non-applicable day DOM (Days on Market), it still serves well as a stable component of an investment portfolio. The primary focus here should be on maintaining a consistent cash flow rather than seeking rapid property value increases.
The ZIP code also has a 35.9% renter share, indicating a substantial portion of the population relies on rental housing. This suggests a reliable demand for rental units, particularly those that accept Section 8 vouchers. The median income of $58,367 supports the viability of the Section 8 program in this area, as it aligns with the income levels eligible for such assistance.
In conclusion, ZIP 12078 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Landlords can leverage the difference between the FMR and the local market rent to ensure steady, positive cash flow while minimizing the risk associated with volatile markets or uncertain demand. This approach provides a solid foundation for building a sustainable and profitable real estate investment portfolio.
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.