Location: Sullivan County, NY | Metro: Sullivan 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 | $1,510 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,950 | $237,729 | 0.82% | C |
| 3BR | $2,700 | $289,960 | 0.93% | C |
| 4BR | $2,740 | $322,177 | 0.85% | C |
| 5BR | $3,178 | $422,092 | 0.75% | D |
U.S. Census Bureau data (2024)
Fallsburg, NY, located in ZIP code 12733, serves as an ideal appreciation play within a Section 8 portfolio strategy. The median family income in Fallsburg is $56,056, which aligns well with the income requirements for many Section 8 tenants. This ensures a steady demand for rental properties in the area.
The median home value in Fallsburg is $323,832, indicating that property values are currently undervalued compared to the Fair Market Rent (FMR) for the Sullivan County, NY metro area, which stands at $1,950 for fiscal year 2026. This discrepancy suggests potential for future appreciation as the local real estate market matures and property values adjust to better reflect rental market conditions.
Although the data does not provide specific percentages for price-cut shares or days on market (DOM), the combination of stable tenant demand and undervalued property prices positions Fallsburg as a promising investment for long-term capital growth. Landlords and small-portfolio investors looking to capitalize on appreciation should consider acquiring properties in this ZIP code.
The 77.1% renter share further supports the case for Fallsburg as an appreciation play. With such a high percentage of renters, there is less competition from owner-occupied homes, allowing rental properties to potentially increase in value without the immediate pressure of residential buyers entering the market. This scenario typically leads to a more controlled and predictable appreciation trend over time.
In summary, Fallsburg's alignment with Section 8 tenant income levels, combined with its undervalued property prices and high renter share, makes it a strong candidate for an appreciation play in a Section 8 portfolio strategy. Investors can expect solid long-term returns as the area continues to develop and property values rise to meet the higher rental market standards.
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.