Location: Glens Falls, NY | Metro: Glens Falls, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 12841 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue, especially when comparing the market rent to the Fair Market Rent (FMR) of $1360 for FY 2024. While the exact market rent is not available, it's crucial to understand that tenants with vouchers may move frequently, impacting long-term occupancy stability.
Vacancy exposure is another concern. The Days on Market (DOM) figure is not provided, but in areas where rental properties are scarce, it can take longer to fill vacancies, leading to potential financial losses. Given the typical home value of $623,569 and a median income of $63,348, landlords must be prepared for the possibility of deferred maintenance costs, which can quickly escalate if not managed properly.
However, these risks must be weighed against the 0.0% renter share in the area. Typically, higher renter density correlates with greater demand for housing vouchers. In ZIP 12841, the low renter share suggests that there may be fewer voucher holders, potentially reducing the number of Section 8 tenants seeking housing. This could mitigate some of the risks associated with high turnover and maintenance costs.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.