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 | $1,020 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $222,270 | 0.58% | F |
| 3BR | $1,670 | $271,623 | 0.61% | D |
| 4BR | $1,700 | $343,633 | 0.49% | F |
U.S. Census Bureau data (2024)
The rental market in ZIP 12816, which encompasses Cambridge, New York, presents a nuanced scenario for both renters and landlords. The median household income stands at $75,966, while the market rate for rent is $1,117 according to the Census Bureau's American Community Survey (ACS).
To put this into context, a household earning the median income would spend approximately 17.3% of their annual income on rent at the market rate. This figure indicates that renting at the market rate is feasible but places a significant portion of the household's income towards housing costs.
The Federal Market Rent (FMR) for ZIP 12816 in fiscal year 2024 is set at $1,170. This amount is slightly higher than the current market rate, suggesting that households receiving Section 8 vouchers could potentially afford slightly more expensive housing options within the area.
Given that only 18.9% of the 4,824 residents are renters, competition among landlords for tenants is relatively low. However, the affordability gap between the median income and the rent rates, whether market or voucher-based, means that landlords must be strategic in their pricing and tenant selection to maximize occupancy and profitability.
The takeaway for landlords considering whether to accept voucher tenants or focus on those paying cash is clear: the voucher payment standard aligns closely with the market rate, making it a viable option for maintaining steady cash flow. Accepting vouchers can help landlords secure tenants in a competitive environment where affordability is a concern for many households. On the other hand, cash-paying tenants might offer flexibility and potentially higher rents, though the availability of such tenants is uncertain given the local income levels and rent prices.
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.