Section 8 Fair Market Rent (FMR) for ZIP 12584 - 2027

FY 2027 Fair Market Rent Rates

The investment risk assessment for ZIP code 12584 in Unknown, NY, highlights several potential issues that could impact landlords and small-portfolio investors. Firstly, tenant turnover is a significant concern due to the disparity between the market rent and the Fair Market Rent (FMR) set at $1860 for FY 2024. This can lead to frequent changes in occupancy, which may result in higher costs associated with finding new tenants and preparing the property for them.

Vacancy exposure is another critical factor. With no available data on days on market (DOM), it's challenging to predict how quickly a vacant property can be filled. High DOM values can indicate a sluggish rental market, increasing the likelihood of extended vacancy periods and reducing overall profitability.

Deferred maintenance exposure is also a risk. The lack of specific data on typical home values and median incomes in ZIP 12584 suggests that residents might struggle to afford necessary repairs and upgrades. This can translate into higher maintenance costs for landlords who must ensure their properties meet Section 8 standards and remain habitable.

However, these risks must be weighed against the high renter share in the area. Although the exact percentage is not provided, high renter density generally correlates with increased demand for rental housing, including units that accept Section 8 vouchers. This can mitigate some of the risks by ensuring a steady stream of potential tenants.

Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 12584.

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.