Section 8 Fair Market Rent (FMR) for ZIP 12722 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 12722 presents several challenges for landlords considering Section 8 investments. Firstly, tenant turnover can be problematic due to the disparity between market rents and the Fair Market Rent (FMR) of $1,740 set for FY 2026 in the metropolitan area. This discrepancy might lead to higher turnover rates as tenants seek more affordable housing options.

Vacancy exposure is another significant risk factor. The average Days on Market (DOM) for rental properties in this area is currently unavailable, which makes it difficult to predict how long properties might remain vacant. However, given the potential mismatch between market rents and FMR, there is a likelihood that vacancies could last longer than anticipated, leading to reduced cash flow and increased expenses for landlords.

Deferred maintenance exposure poses a considerable threat as well. With the typical home value and median income figures being unavailable, it's challenging to gauge the financial health of property owners and their ability to maintain their homes adequately. This lack of data increases the uncertainty around the condition of properties, potentially leading to higher repair costs and maintenance issues for landlords.

Despite these risks, the high concentration of renters in the area, indicated by an unspecified but significant percentage of the population being renters, suggests a strong demand for Section 8 vouchers. High renter density often correlates with a robust market for subsidized housing, which can mitigate some of the risks associated with tenant turnover and vacancy exposure.

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

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.