Location: Glens Falls, 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $274,518 | 0.56% | F |
| 3BR | $1,840 | $380,186 | 0.48% | F |
| 4BR | $2,030 | $414,496 | 0.49% | F |
U.S. Census Bureau data (2024)
The rental market in ZIP code 12154, which encompasses Schaghticoke, NY, presents a dynamic scenario that reflects both the current state and potential future movements within the housing sector. The Fair Market Rent (FMR) for the area, set at $1220 for fiscal year 2024, indicates a higher benchmark established by HUD compared to the actual market rent reported by the Census Bureau's American Community Survey (ACS), which stands at $821. This discrepancy suggests a market where rents are below the federal guideline, potentially signaling a region where demand might be lower relative to supply.
The median home value of $346,249 provides insight into the overall property valuation in the area. While the percentage of homes experiencing price cuts and the days on market (DOM) are not available, the gap between FMR and market rent implies a stable but possibly underutilized rental market. Landlords and small-portfolio investors should consider this when evaluating the potential for rental income growth in the near term.
A key factor in understanding the rental dynamics is the renter share, which is currently at 9.7%. This figure is relatively low and suggests that the majority of residents prefer homeownership over renting. A low renter share can indicate a less pressured rental market, allowing for more flexibility in pricing and terms for landlords. However, it also points to a potential challenge for investors looking to capitalize on high rental demand. The stability of the homeowner base could mean fewer opportunities for short-term speculative gains through rentals, but it also supports a steady, predictable market for those who wish to invest in longer-term rental properties.
In summary, ZIP 12154 appears to be a market where supply slightly outpaces demand, given the gap between FMR and market rent. The low renter share suggests a preference for homeownership among residents, which can contribute to a stable but less volatile rental environment. For investors, this means careful consideration of investment strategies that align with the current market conditions, focusing on sustainable returns rather than speculative gains.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.