Location: Essex County, 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 | $980 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $415,986 | 0.29% | F |
| 3BR | $1,580 | $583,636 | 0.27% | F |
| 4BR | $1,620 | $890,105 | 0.18% | F |
U.S. Census Bureau data (2024)
The ZIP code 12836, located in Hague, NY within the Essex County, NY metro area, presents an intriguing opportunity for inclusion in a Section 8 portfolio strategy. This area stands out as a potential cash-flow anchor due to the significant spread between the Fair Market Rent (FMR) and the local market rental rates.
In fiscal year 2024, the FMR for ZIP 12836 is set at $1290. However, the current market rental rate for the area is only $570, indicating a substantial difference. This means that properties in this ZIP can be rented out at rates higher than the market average when participating in the Section 8 program, thus providing a reliable source of income above what the typical rental market offers.
The median home value in ZIP 12836 is $561,727, which suggests that property values are relatively high. Despite this, the low market rental rate of $570 indicates that there is room for landlords to benefit financially from the Section 8 program without overextending their investment. The disparity between the FMR and the market rate allows for a steady cash flow, making it an attractive anchor for a portfolio that aims to stabilize income streams.
While the ZIP code does not present an immediate appreciation play due to the lack of specific data on price-cut shares and days on market (DOM), it still offers solid diversification benefits. With a 13.0% renter share and a median income of $80,221, the area has a modest but stable tenant population. This demographic provides a consistent demand for rental properties, ensuring that even if appreciation opportunities are limited, the ongoing rental income remains dependable.
Therefore, ZIP 12836 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Its ability to generate higher-than-market rental income through the FMR while maintaining a stable tenant base makes it a valuable component for landlords and small-portfolio investors looking to secure predictable returns.
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.