Location: Glens Falls, NY | Metro: Albany-Schenectady-Troy, 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 | $1,100 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,280 | $211,129 | 0.61% | D |
| 2BR | $1,540 | $286,473 | 0.54% | F |
| 3BR | $1,840 | $356,882 | 0.52% | F |
| 4BR | $2,030 | $396,984 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP 12835, located in Hadley, NY within the Glens Falls, NY MSA, can serve as an effective cash-flow anchor in a Section 8 portfolio strategy. This classification is based on the favorable spread between the Fair Market Rent (FMR) set by HUD for the fiscal year 2024 and the current market rent. For FY 2024, the FMR for ZIP 12835 is $1,190. In contrast, the average market rent is $1,023. This means that landlords participating in the Section 8 program can expect a higher rental income compared to the local market rate, thus providing a steady and reliable cash flow.
The median home value in ZIP 12835 stands at $299,137, which indicates a relatively stable housing market. However, the primary focus for a cash-flow anchor is the guaranteed rental income, which is secured through the Section 8 voucher program. The higher FMR compared to the market rent ensures that landlords can cover their mortgage payments, maintenance costs, and other expenses while still generating a positive cash flow.
While ZIP 12835 does have a renter share of 15.9%, which could make it a potential diversifier, and a median income of $66,992, these factors do not outweigh the benefits of using this ZIP code as a cash-flow anchor. The lack of specific data regarding price-cut shares and days on market (DOM) also suggests that appreciation plays might not be as significant in this area.
In conclusion, ZIP 12835 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Landlords will benefit from the guaranteed higher rental income provided by the HUD-set FMR, ensuring financial stability and predictability in their investment returns.
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.