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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,840 | $325,413 | 0.57% | F |
| 4BR | $2,030 | $356,901 | 0.57% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 12185, located in the Glens Falls, NY MSA, does not favor landlords. The Fair Market Rent (FMR) set at $1270 for fiscal year 2024 is higher than the actual market rent of $1,098 as reported by the Census ACS. This means that landlords might struggle to find tenants willing to pay the FMR, especially since the local market rent is significantly lower.
Acquisition in this area is relatively affordable. With a median home value of $310,119, purchasing properties is within reach for many investors. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts suggests that the market dynamics for selling homes are unclear. Landlords should proceed with caution, as these metrics are crucial for understanding how quickly they can turn over their investment properties and whether they will need to adjust their prices to attract buyers.
Tenant demand in ZIP 12185 is moderate. The total population stands at 1,709, with 17.7% being renters. This indicates a smaller pool of potential tenants compared to more densely populated areas, which could make it challenging to maintain occupancy rates.
Verdict: While the acquisition cost in ZIP 12185 is reasonable, the discrepancy between the FMR and the actual market rent suggests that landlords may face difficulties in pricing their units competitively. Additionally, the limited data on market dynamics and a modest tenant base imply that investor returns may be lower than expected. Landlords should carefully evaluate the local rental market before committing to 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.