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 | $1,050 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,320 | $261,465 | 0.5% | F |
| 3BR | $1,710 | $297,021 | 0.58% | F |
| 4BR | $1,730 | $331,456 | 0.52% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 12827, which includes Fort Ann, NY, in Washington County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1200. This figure represents the maximum amount that the housing authority will pay for rent under the Section 8 program.
In contrast, the local market rent for a two-bedroom unit, based on Census ACS data, is currently $1,089. This means that landlords can expect to receive a payment closer to the market rate when a tenant uses a Section 8 voucher, assuming they do not exceed the SAFMR limit.
A Section 8 voucher works by covering the difference between the tenant's contribution and the total rent. The tenant's portion is typically 30% of their income, but it cannot be less than 10% of the total rent. For example, if a tenant's income is such that their 30% contribution is $360, the housing authority would cover the remaining $840 to meet the local market rent of $1,089. However, if the rent exceeds the SAFMR, the housing authority still only pays up to $1200.
To walk through the calculation, let's assume the tenant contributes 30% of their income towards rent. If the rent is set at $1,089, the tenant's portion would be around $360, leaving the housing authority to cover the rest. In this case, the housing authority would reimburse the landlord the difference, which is $729.
Note that utility allowances are also factored into the overall payment structure. These allowances vary but generally cover a portion of the tenant's utilities. As of now, there isn't a specific utility allowance figure provided for ZIP 12827, so it's important to check with the local housing authority for exact amounts.
Given the SAFMR of $1200 and the local market rent of $1,089, landlords in ZIP 12827 will see a surplus rather than a gap. The typical reimbursement for a two-bedroom unit in this scenario would leave landlords with an additional $111 per month, beyond the local market rent, if they choose to charge the maximum allowable rent under Section 8 guidelines.
This surplus allows landlords to potentially earn slightly above the average market rent while still participating in the Section 8 program, making it a viable option for property owners in Fort Ann, NY.
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.