Location: Delaware 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 | $253,839 | 0.61% | D |
| 3BR | $1,840 | $290,058 | 0.63% | D |
| 4BR | $2,030 | $321,824 | 0.63% | D |
U.S. Census Bureau data (2024)
A landlord considering purchasing a property in ZIP code 12093 (Jefferson, NY) for Section 8 should follow these steps:
Step 1: Determine if the Fair Market Rent (FMR) of $1190 can cover the debt service on a $254,154 property. This involves calculating the monthly mortgage payment based on typical financing terms. For instance, if we assume a 30-year fixed-rate mortgage at 5%, the monthly payment would be approximately $1350. Given that the FMR is $1190, it does not clear the debt service. Therefore, the answer is No. The FMR does not provide sufficient income to cover the mortgage payments.
If the landlord is still interested despite the FMR not covering the debt service, proceed to the next step.
Step 2: Compare the FMR to the market rent. In this case, the market rent is listed as N/A, indicating there is no available data to make this comparison. Without knowing the market rent, it's impossible to determine if it is above, at, or below the FMR. Thus, the answer is It Depends. The lack of market rent data means further investigation is required to understand the local rental market dynamics.
If the landlord has found market rent data or decides to proceed without it, they should move to the final step.
Step 3: Evaluate the demand for rental properties. The data shows that 7.1% of the population are renters, and the days on market (DOM) is listed as N/A. Typically, a lower DOM indicates higher demand. However, since DOM is unavailable, we can only consider the percentage of renters. A 7.1% rental rate suggests limited demand. Therefore, the answer is No. The demand is insufficient to support a Section 8 investment strategy.
In summary, ZIP 12093 (Jefferson, NY) does not meet the criteria for a Section 8 investment due to the FMR not covering the debt service and limited rental demand. Further research into market rents would be necessary to fully assess the viability of Section 8 investments in this 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.