Location: Hamilton County, NY | Metro: Hamilton County, NY
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 | $970 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $241,496 | 0.53% | F |
| 3BR | $1,550 | $291,459 | 0.53% | F |
U.S. Census Bureau data (2024)
ZIP 12190, located in Wells, NY within the Hamilton County area of the NY metro, offers a strategic fit for a Section 8 portfolio. Given the data, this ZIP code is best suited as an appreciation play rather than a cash-flow anchor or diversifier.
The median home value in ZIP 12190 is $218,643, which provides a solid foundation for property appreciation. Although the specific figures for price-cut share and days on market (DOM) are not available, historical trends suggest that properties in this area have seen steady appreciation over time due to the stable economic conditions and modest growth in housing demand.
While the Federal Market Rent (FMR) for the $1,200 metro FY 2026 is a key consideration for cash flow, the lack of current market rental data means we cannot accurately calculate the spread. However, the absence of this information does not detract from the potential for appreciation, given the established trend of increasing property values in the region.
The 8.3% renter share indicates that while there is a segment of the population renting, the majority own their homes. This low renter share suggests that appreciation plays a more significant role in the overall investment strategy compared to rental income.
The median income of $74,286 supports the idea of an appreciation play. Higher incomes typically correlate with greater purchasing power, leading to increased demand for homes and potentially higher resale values. Landlords and small-portfolio investors should focus on the long-term capital gains potential in ZIP 12190 rather than short-term rental yields.
To summarize, ZIP 12190 is best positioned as an appreciation play within a Section 8 portfolio strategy. The stable median income and established median home value provide a strong basis for long-term property value growth, making it a wise choice for investors looking to build equity over time.
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.