Location: Greene County, NY | Metro: Albany-Schenectady-Troy, NY MSA
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 | $1,100 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $264,245 | 0.58% | F |
| 3BR | $1,840 | $341,436 | 0.54% | F |
| 4BR | $2,030 | $414,032 | 0.49% | F |
U.S. Census Bureau data (2024)
The dynamics of Greenville, NY (ZIP 12083) present a market in motion, driven by the interplay between federal funding and local rental trends. The Fair Market Rent (FMR) for ZIP 12083, set at $1260 for fiscal year 2024, is notably higher than the current market rent of $932 as reported by the Census American Community Survey (ACS). This suggests that there is an upward pressure on rents, likely due to the alignment of landlord expectations with federal guidelines.
The median home value in Greenville stands at $319,057. While this figure provides insight into the overall property values, it does not directly indicate whether supply outpaces demand or vice versa. However, the significant gap between the FMR and market rent implies that landlords might be positioning themselves for future increases, anticipating that the market will eventually catch up to the federally determined fair market rate.
A key indicator of Greenville's housing dynamics is the 24.2% renter share. This relatively low percentage of renters compared to homeowners suggests that the long-term housing pressure leans towards stability rather than acute scarcity. In areas with higher renter shares, there is often a greater strain on available rental properties, leading to shorter days on market (DOM) and potentially higher rents. Greenville's lower renter share indicates a more balanced market, where homeownership is prevalent, and rental demand, while present, is not overwhelming.
The lack of specific data on price-cut share and days on market leaves some uncertainty regarding the immediate supply-demand balance. However, the disparity between FMR and market rent, combined with the moderate renter share, points toward a market where demand is steady but not necessarily driving rapid price increases. Landlords and small-portfolio investors should monitor these trends closely, particularly the potential for rents to rise as they align with the FMR over time.
In summary, Greenville's ZIP 12083 presents a market characterized by federal rent guidance exceeding current market rates, suggesting a potential for upward movement. The substantial homeownership base, indicated by the 24.2% renter share, signals a stable environment that is less prone to the volatile swings seen in highly rented markets. For investors, this translates to a predictable, if not immediately lucrative, investment climate, with room for strategic growth as rental rates adjust.
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.