Section 8 Fair Market Rent (FMR) for ZIP 12555 - 2027

FY 2027 Fair Market Rent Rates

1860 is the Fair Market Rent (FMR) for ZIP code 12555 in fiscal year 2024, according to HUD standards. This figure represents the maximum amount a Section 8 tenant can pay for housing in this area. Despite the N/A placeholder for market rent, indicating incomplete data, the FMR provides a solid benchmark for rental pricing strategies. The median home value also stands at N/A, suggesting limited residential sales data or an overwhelming rental market. With a N/A% renter share, it's evident that the exact proportion of renters to homeowners is unclear, but the presence of a significant Section 8 population suggests strong demand for affordable rentals. The median income in the area is listed as N/A, which means we lack a precise measure of residents' earning power, though the FMR offers insight into what is considered affordable. Properties in this ZIP code typically take N/A days to sell, known as Days on Market (DOM), which could indicate a balanced market or reflect the scarcity of available sales data. Furthermore, the N/A% price-cut share reveals that there is no record of how often sellers have had to reduce their asking prices, possibly due to a robust seller's market or insufficient transaction volume. Given the clear FMR figure of $1860 and the absence of competing market data, landlords and small-portfolio investors should consider the potential benefits of accepting Section 8 tenants.

Verdict: Accepting Section 8 tenants in ZIP 12555 is advisable given the established FMR and the lack of alternative market benchmarks.

Data Sources: FMR data from HUD (2027).

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.