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 | $1,060 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,710 |
| 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 | $1,710 | $342,832 | 0.5% | F |
U.S. Census Bureau data (2024)
ZIP code 12451, located within the Greene County, NY metro, presents a unique profile when compared to other ZIP codes in the region. The Fair Market Rent (FMR) for 12451 is set at $1,440 for fiscal year 2026, which is higher than the average market rent of $1,268. This indicates that 12451 leans towards being a premium sub-market within its metro, as it commands a higher rent premium.
The median home value in 12451 stands at $319,010, which is likely above the average for Greene County, NY. However, without specific comparative data on Greene County's overall median home values, we can infer that this places 12451 in a mid-tier category. It is neither an entry-level neighborhood nor a high-end luxury market, but rather a middle-ground where properties are priced moderately above the county average.
The renter share in ZIP 12451 is 8.6%, which suggests a relatively low proportion of renters compared to owners. This is important for landlords and small-portfolio investors as it implies that the rental market might be less competitive and potentially more stable, given fewer units are available for rent.
A key observation is the discrepancy between the FMR and the market rent. With an FMR of $1,440 and a market rent of $1,268, landlords could potentially attract tenants who benefit from federal housing assistance programs. This makes 12451 a valuable area for investors interested in Section 8 properties, as it offers a balance between affordable rents and government-supported tenant income.
In summary, ZIP 12451 is best characterized as a mid-tier neighborhood within the Greene County, NY metro, with some characteristics of a premium sub-market due to its higher FMR. Its slightly elevated home values and lower-than-average renter share indicate a stable investment environment, particularly appealing for those involved in Section 8 real estate due to the potential for subsidized tenants.
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.