Location: Glens Falls, NY | Metro: Glens Falls, NY MSA
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 | $1,240 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,240 | $207,210 | 0.6% | F |
| 2BR | $1,560 | $276,897 | 0.56% | F |
| 3BR | $2,020 | $381,350 | 0.53% | F |
| 4BR | $2,050 | $507,498 | 0.4% | F |
| 5BR | $2,378 | $599,376 | 0.4% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 12804, which encompasses Queensbury, NY, stands at $89,127. Considering the market rate for rent, which is $1,246 according to the Census American Community Survey (ACS), it becomes evident that households in this area can indeed afford the average rent. However, the comparison to the Fair Market Rent (FMR) standard set at $1,520 for fiscal year 2024 reveals a significant affordability gap.
This gap means that many potential tenants might find the FMR standard unattainable without financial assistance. As a result, landlords face competition not only from other property owners but also from those who offer properties within the voucher payment range. The fact that 24.7% of the population are renters, out of a total population of 28,208, indicates a sizeable demand for rental housing. Yet, the disparity between the actual rent prices and the FMR suggests that a portion of this demand may be unmet due to affordability issues.
The takeaway for landlords considering their strategy on voucher versus cash-pay tenants is clear. While cash-paying tenants may offer higher immediate returns, the competition for such tenants is fierce. On the other hand, accepting Section 8 vouchers can secure a steady stream of tenants, albeit at a lower rate. Given the affordability gap and the proportion of renters in the area, landlords should consider a balanced approach. They can cater to both cash-paying tenants who can afford the higher market rates and voucher recipients, ensuring a stable occupancy rate and a mix of income levels.
In conclusion, while the median income supports the current market rate, the FMR sets a higher bar that many may struggle to meet. Landlords must weigh the benefits of higher rents against the reliability of government-subsidized payments to navigate this competitive landscape effectively.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.