Location: Greene County, NY | Metro: Greene 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 | $960 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $234,369 | 0.58% | F |
| 3BR | $1,760 | $323,759 | 0.54% | F |
| 4BR | $2,100 | $396,055 | 0.53% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP 12423, located in East Durham, NY, present a market in flux, driven by the interplay between rental and homeownership trends. The Fair Market Rent (FMR) stands at $1,230, reflecting the fiscal year 2026 estimates for the metro area. Despite the lack of current market rent data, the median home value of $303,687 suggests a robust homeownership sector.
The snapshot reveals that the renter share is 4.5%, indicating a relatively low proportion of renters compared to homeowners. This figure points towards a long-term housing market that leans heavily towards ownership rather than leasing. However, it also implies potential pressure on rental markets, as a smaller percentage of the population renting can lead to higher competition for available units, thus driving up rents when supply is constrained.
While the data does not provide a direct comparison between supply and demand, the absence of specific market rent figures and the price-cut share, along with days on market (DOM) data, suggests that the rental market may be less active or stable. Conversely, the high median home value could indicate strong demand for homeownership, possibly outpacing supply. This scenario is typical in areas where economic growth or employment opportunities attract buyers but do not necessarily translate into increased rental activity.
The low renter share further supports the notion that this is a market primarily oriented towards homeowners. In such environments, landlords and small-portfolio investors must consider the potential for fluctuating demand and ensure that their properties remain competitive and attractive to those few seeking rentals. Understanding these dynamics is crucial for making informed investment decisions in ZIP 12423, where the balance between rental and homeownership markets shapes the overall housing landscape.
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.