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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,010 | $190,866 | 0.53% | F |
| 2BR | $1,240 | $328,115 | 0.38% | F |
| 3BR | $1,640 | $514,740 | 0.32% | F |
| 4BR | $1,870 | $692,928 | 0.27% | F |
| 5BR | $2,169 | $967,667 | 0.22% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 12496 in Windham, NY, highlights several potential challenges for landlords considering participation in the Section 8 program. Firstly, tenant turnover poses a significant issue. The market rent stands at $794, while the Fair Market Rent (FMR) for FY 2026 in the metropolitan area is $1,370. This substantial gap suggests that tenants may struggle to afford rent increases, leading to higher turnover rates.
Vacancy exposure is another critical concern. With the days on market (DOM) being listed as N/A, it indicates a lack of recent data on how quickly properties are rented out. This uncertainty can lead to extended periods without rental income, increasing financial pressure on landlords.
Deferred maintenance also presents a risk. Given the typical home value of $497,603 and a median income of $59,286, many homeowners might delay necessary repairs due to financial constraints. For landlords, this could mean inheriting properties that require significant investments to meet the housing quality standards set by the Section 8 program.
However, these risks must be weighed against the positive factors. The renter share in Windham is 11.3%, which is relatively high. High renter density often correlates with greater demand for housing vouchers, potentially stabilizing occupancy rates and providing a steady stream of income for landlords who qualify for the Section 8 program.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 12496 is moderate.
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.