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 | $1,000 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,800 | $408,425 | 0.44% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 12473 reveals a significant gap between the Fair Market Rent (FMR) set at $1,510 for the fiscal year 2026 and the current market rents. Based on recent rental listings, the market rent for properties in the surrounding areas ranges from $1,030 to $2,840 per month, indicating that the FMR is approximately $500 below the median market rent. This translates to a gap of about 33%, where the FMR is lower than the market rent.
In ZIP 12473, only 7.6% of the population are renters, with a median home value of $368,146 and a median household income of $103,542. Given these conditions, landlords and small-portfolio investors should be aware that accepting Section 8 tenants could mean renting properties below the open-market rates. This can impact overall yields and profitability, as properties might not command the full market value due to the voucher program's limitations.
However, the voucher system can still offer a stable and reliable source of income, particularly in areas with a high percentage of low-income residents. For those who qualify, the government covers a portion of the rent, reducing the risk of non-payment. Despite the lower rent compared to market rates, the steady cash flow and reduced vacancy rates can make this a strategic investment in a region where rental demand is relatively low.
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.