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 | $940 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,570 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $301,027 | 0.41% | F |
| 3BR | $1,570 | $417,133 | 0.38% | F |
| 4BR | $1,610 | $515,848 | 0.31% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 12817 (Chestertown, NY) on the axes of yield and stability reveals it as a moderate cash flow opportunity with some considerations regarding stability.
On the yield axis, the Fair Market Rent (FMR) for ZIP 12817 is set at $1,040 for fiscal year 2024, which is notably higher than the market rent of $816. This indicates that landlords participating in the Section 8 program can expect a premium over the local market rates, enhancing potential rental income. However, the median home value of $374,331 suggests that property acquisition costs are relatively high compared to the FMR and market rent, which may affect the overall return on investment.
Moving to the stability axis, only 16.2% of residents are renters, indicating a predominantly owner-occupied area. This characteristic can lead to lower demand for rental properties and potentially less stable occupancy rates. Additionally, the average daily days on market (DOM) figure is not available, which could be a significant factor in assessing how quickly properties might be leased. The median household income of $93,393 provides some insight into the economic health of the area but does not directly correlate with rental demand or stability.
To summarize, ZIP 12817 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR compared to market rent offers a financial incentive for landlords, but the low percentage of renters and high median home value suggest a need for careful consideration of long-term occupancy risks. The lack of data on days on market further complicates the assessment of rental property stability in this area.
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.