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 | $950 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,750 | $443,967 | 0.39% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12424 in Greene County, NY metro reveals several key points for landlords and small-portfolio investors. First, regarding the rent math, the Fair Market Rent (FMR) for the area stands at $1,370 for fiscal year 2026. However, the market rent is listed as N/A, which suggests that there might be limited data available on current rental rates. This makes it challenging to directly compare the FMR with actual market conditions, but assuming the FMR is reflective of the market, landlords can expect to charge around $1,370 per month.
Second, the acquisition cost in the form of median home values is $394,786. While the days on market (DOM) and the percentage of homes sold with a price cut are not provided, the median home value gives a clear indication of the purchase price range for potential properties. This figure should be considered alongside any financing options and the expected rental income to determine if the investment aligns with financial goals.
Third, tenant demand in ZIP 12424 is relatively low given its small population of 239 and a renter share of only 12.3%. This indicates that there are approximately 29 renters in the area, which could pose challenges in finding enough tenants to fill all units in larger properties.
Verdict: The rent math appears favorable based on the FMR, though market rent data is unavailable. Acquisition costs are moderate, with a median home value of $394,786. However, the low population and limited renter share suggest that tenant demand is weak. Investors should proceed cautiously, focusing on smaller-scale investments and ensuring thorough due diligence on local market dynamics and property management strategies to mitigate risks associated with low demand.
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.