Location: Greene County, NY | Metro: Greene County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
47.1% of residents in ZIP 12407 are renters, indicating a robust demand for rental properties. In this area, the Fair Market Rent (FMR) for Section 8 is set at $1,130, which is significantly lower than the market rent of $1,325 as reported by the Census ACS. This discrepancy provides an opportunity for landlords to offer affordable housing while still maintaining a competitive position in the local rental market. The median home value stands at $400,498, suggesting that property values are relatively high, which could impact the cost of acquiring rental units. However, the median income of $63,438 indicates that many residents might find it challenging to afford homeownership, further supporting the need for rental options. Despite the high median home value, there is no data available on the average days on market (DOM), which typically would give insight into how quickly properties are rented out. Similarly, the lack of data on the percentage of price-cut share suggests that landlords in this area are likely maintaining their asking rents without significant adjustments. Given the strong rental demand and the gap between Section 8 FMR and market rents, landlords can effectively participate in the Section 8 program while ensuring a steady stream of income. Verdict: ZIP 12407 presents a favorable environment for Section 8 participation.
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.