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 | $970 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $692,716 | 0.18% | F |
| 3BR | $1,580 | $755,152 | 0.21% | F |
| 4BR | $1,610 | $1,054,059 | 0.15% | F |
| 5BR | $1,868 | $1,684,052 | 0.11% | F |
U.S. Census Bureau data (2024)
14.7% of residents in ZIP code 12814, Bolton Landing, NY, are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for Section 8 in this area is set at $1300 for zip FY 2024, which is notably higher than the Census-reported market rent of $1,083. This suggests that landlords participating in the Section 8 program can expect slightly better rental income compared to the general market. However, the median home value stands at $733,515, which is significantly higher than the median income of $104,489. This discrepancy highlights the financial challenges faced by potential tenants, making affordable housing options like Section 8 particularly attractive.
The absence of data on days on market (DOM) and the percentage of price-cut shares indicates either a stable market with quick property turnover or a lack of recent sales activity. In a stable market, landlords can expect consistent tenant interest, reducing vacancy periods. Given the higher FMR compared to market rent, the Section 8 program offers a reliable source of income for landlords willing to participate. Additionally, the relatively low median income compared to home values supports the idea that many residents would benefit from subsidized housing programs.
In conclusion, despite the financial strain on local residents, the Section 8 program provides a viable option for landlords looking to secure steady rental income at a rate above the average market rent. The higher FMR of $1300 compared to the market rent of $1,083 makes it an attractive choice for maintaining occupancy and cash flow. Bolton Landing, NY, is a good fit for Section 8 participation.
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.