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 | $930 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $219,027 | 0.63% | D |
| 3BR | $1,730 | $282,759 | 0.61% | D |
| 4BR | $1,910 | $307,959 | 0.62% | D |
| 5BR | $2,216 | $334,832 | 0.66% | D |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 12754, located in Liberty, NY, presents a complex scenario for both renters and landlords. The median household income stands at $67,624, which is a key figure when assessing the financial capacity of residents to cover their housing costs. Given the market rate of $911 per month for rent (as reported by the Census Bureau's American Community Survey), a household earning the median income could feasibly allocate a portion of their earnings towards rent without undue strain. However, this assumes no other significant financial burdens.
In contrast, the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for ZIP 12754 in fiscal year 2024 is $1860. This amount represents the maximum voucher payment for a household receiving assistance through the Section 8 program. Clearly, there is a substantial gap between the market rate and the FMR, indicating that voucher holders might struggle to find affordable housing within the ZIP code. For landlords, this means that properties priced closer to the $911 market rate will be more attractive to voucher recipients.
With 46.3% of the 8,296 population being renters, competition among landlords for tenants is notable. This high percentage of renters suggests a robust demand for rental properties. However, the affordability gap, where the FMR significantly exceeds the market rate, implies that landlords who accept vouchers must be prepared to deal with higher rent amounts, potentially reducing the pool of eligible tenants.
The takeaway for landlords considering their strategy on whether to accept vouchers or focus on cash-paying tenants is clear. Accepting vouchers can open up a larger tenant pool but comes with the challenge of higher rent payments. Landlords should weigh these factors carefully, considering the local economic conditions and the availability of voucher holders looking for housing. Meanwhile, focusing on cash-paying tenants allows for greater flexibility in pricing, aligning more closely with the current market rate, but may limit the number of potential renters given the affordability gap.
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.