Location: Glens Falls, NY | Metro: Glens Falls, NY MSA
| 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 |
U.S. Census Bureau data (2024)
57.8% of residents in ZIP code 12821 are renters, indicating a significant demand for rental properties. The $1170 Fair Market Rent (FMR) for zip code 12821 as of fiscal year 2024 suggests that landlords can expect to receive this amount per unit when participating in the Section 8 program. In comparison, the $856 average market rent, derived from Census ACS data, shows that the FMR is higher by approximately $314, making Section 8 participation financially advantageous. With a median home value of $242,719, the area demonstrates stability and potential for long-term investment. However, the lack of data on median income and days on market (DOM) limits insights into the economic health and competitive landscape of the rental market. Similarly, the absence of information on the percentage of homes that have been price-cut underscores the need for further research before making investment decisions. Given the high FMR relative to market rents and the substantial renter share, landlords and small-portfolio investors should consider Section 8 participation as a viable strategy to ensure steady cash flow and occupancy.
Section 8 Verdict: Participation in the Section 8 program is recommended due to the favorable FMR and high renter share in ZIP code 12821.
Data Sources: FMR data from HUD (2027). 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.