Section 8 Fair Market Rent (FMR) for ZIP 12134 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 12134

• Town of Colonie (Saratoga Springs, NY) - 440 Section 8 vouchers
• Mechanicville Housing Authority (Mechanicville, NY) - 345 Section 8 vouchers
• Saratoga Springs Housing Authority (Saratoga Springs, NY) - 337 Section 8 vouchers
• Gloversville Housing Authority (Gloversville, NY) - 255 Section 8 vouchers
• Town of Rotterdam (Saratoga Springs, NY) - 249 Section 8 vouchers
• Fort Plain Housing Agency (Saratoga Springs, NY) - 246 Section 8 vouchers
• Village of Ballston Spa (Saratoga Springs, NY) - 163 Section 8 vouchers
• City of Johnstown (Saratoga Springs, NY) - 144 Section 8 vouchers
• Town of Stillwater (Saratoga Springs, NY) - 138 Section 8 vouchers
• Town of Guilderland (Saratoga Springs, NY) - 114 Section 8 vouchers

Northville, NY, located in ZIP code 12134, is a small village known for its serene environment and close-knit community. It offers a mix of residential properties that cater to both homeowners and renters. The real estate market here is influenced by various factors including the Fair Market Rent (FMR), average market rent, home values, and local economic conditions.

• The Fair Market Rent for a two-bedroom apartment in Northville for fiscal year 2024 is set at $1190, according to HUD guidelines. This figure represents the maximum amount that a low-income family should pay for housing to ensure they have enough funds left over for other basic needs.
• The Census Bureau's American Community Survey (ACS) reports the average market rent for Northville to be $891. This lower figure suggests that landlords can potentially increase rents without significantly deterring tenants, provided they offer competitive amenities and property conditions.
• The median home value in Northville stands at $305,873, indicating a relatively stable housing market where property values are neither too high nor too volatile, making it a suitable investment for those looking for steady returns.
• Renters make up 18.7% of the population in Northville, a moderate share that suggests a balanced demand for rental properties. This percentage reflects a community where a significant portion still prefers homeownership, but there is room for growth in the rental sector.
• The median income in Northville is $77,928, which provides insight into the financial capability of potential tenants and buyers. This income level supports a reasonable demand for affordable housing and suggests that residents can afford higher rent or mortgage payments if necessary.
• Data on Days on Market (DOM) for rentals is currently unavailable, which means we cannot assess how quickly rental properties are typically leased. However, given the moderate renter share and stable market conditions, it is likely that rental turnovers are consistent.

Investors in Northville can expect a modest yet reliable market. With a fair market rent higher than the average market rent, there is potential to increase rental rates while maintaining occupancy levels. The median home value and income levels suggest a stable economic base, supporting long-term investment strategies. The moderate renter share indicates that while competition for rental units exists, there is also a solid foundation for property appreciation through homeownership trends.

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.