Section 8 Fair Market Rent (FMR) for ZIP 12563 - 2027
Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
Investment Score for ZIP 12563
D
Monthly Rent (2BR)
$2,660
Median Price (2BR)
$386,579
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,320 |
| 1 Bedroom | $2,440 |
| 2 Bedrooms | $2,660 |
| 3 Bedrooms | $3,370 |
| 4 Bedrooms | $3,690 |
| 5 Bedrooms | $4,280 |
| 6 Bedrooms | $4,794 |
| 7 Bedrooms | $5,178 |
| 8 Bedrooms | $5,437 |
Investment Analysis by Bedroom Size
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms |
Monthly FMR |
Median Price |
1% Rule |
Grade |
| 1BR |
$2,440 |
$261,112 |
0.93% |
C |
| 2BR |
$2,660 |
$386,579 |
0.69% |
D |
| 3BR |
$3,370 |
$524,236 |
0.64% |
D |
| 4BR |
$3,690 |
$692,605 |
0.53% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$98,415
The median home value in ZIP 12563 (Patterson, NY) stands at $464,080, aligning closely with the hypothetical property value mentioned. Let's address the concerns an investor might have regarding this area.
- Will FMR $2260 (zip FY 2024) cover the mortgage on a $464,080 home? To determine if the Fair Market Rent (FMR) of $2260 can cover the mortgage, we need to consider current mortgage rates. The recent search did not provide up-to-date mortgage rates for Patterson, NY specifically, but it's important to note that the FMR must be compared against the monthly mortgage payment, which includes principal, interest, taxes, and insurance. Assuming a typical 4% mortgage rate, the monthly payment on a $464,080 home would likely exceed $2260, indicating that the FMR alone may not fully cover the mortgage expenses. Additional income sources or a higher rent strategy could mitigate this shortfall.
- Is there enough renter demand at 17.1%? With a rental vacancy rate of 17.1%, it's clear that there is significant competition among landlords in ZIP 12563. This percentage suggests a moderate level of demand, but it also implies that finding tenants could be challenging. Landlords should focus on maintaining competitive rental properties to attract tenants.
- Will vouchers keep pace with $1,544 market rents? The search for specific data on the Section 8 voucher program funding in Patterson, NY was inconclusive. However, given the national trend where voucher amounts often lag behind market rents, it's reasonable to assume that the $1,544 market rent might outpace the voucher amount. Investors relying on vouchers should prepare for potential shortfalls and consider supplementary income strategies.
The data indicates a balanced yet challenging environment for landlords and small-portfolio investors in ZIP 12563. While the median home value matches the investment cost, the rental vacancy rate and potential voucher shortfalls present hurdles that require strategic planning and management.
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.