Location: Sullivan County, NY | Metro: Sullivan County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The median home value for ZIP code 12745, located in Hortonville, NY, stands at $184,300. This figure provides the basis for calculating the potential gross yield for properties in this area.
Considering the annualized Fair Market Rent (FMR) for a 2-bedroom unit in ZIP 12745 is set at $1,300 for FY 2026, the gross yield can be calculated as follows:
To determine the gross yield using the FMR, we first need to calculate the annual rent. With an FMR of $1,300 per month, the annual rent would be $15,600. Given the median home value of $184,300, the implied gross yield from the FMR scenario is approximately 8.47%. This calculation is based on the formula: (Annual Rent / Median Home Value) * 100.
However, the market rent for ZIP 12745 is currently not available, making it challenging to derive a precise gross yield from market conditions. In such cases, investors often rely on local real estate trends and comparable rental rates to estimate a reasonable gross yield. Without specific market rent data, it's difficult to provide an exact figure.
Given the 0.0% renter density and the lack of days on market (DOM) data, the FMR-based gross yield of 8.47% appears more realistic for the current scenario. A low renter density suggests that there might be fewer tenants actively seeking housing, which could impact the ability to achieve market rents. Additionally, the absence of DOM data indicates that it is unclear how quickly homes are being rented out, further supporting the reliance on the FMR as a benchmark for potential income.
Investors should use this information as a starting point for their own calculations and consider local real estate dynamics when making investment decisions in ZIP 12745.
Data Sources: FMR data from HUD (2027). 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.