Location: Hamilton County, NY | Metro: Hamilton County, NY
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 | $970 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $277,901 | 0.46% | F |
| 3BR | $1,550 | $329,064 | 0.47% | F |
| 4BR | $1,710 | $353,126 | 0.48% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 12842, Indian Lake, NY, is set at $1,200 per month for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, which is the amount the government will pay towards rent on behalf of eligible tenants. It does not mean you can charge $1,200; it means the voucher will cover up to that amount.
In comparison, the average rent in the area, based on Census ACS data, is currently $792 per month. This indicates that the FMR is significantly higher than the typical market rate, potentially offering a financial advantage for landlords who qualify for the program.
With a 23.6% share of renters in the area, there is a steady demand for rental properties. However, this also means that competition for tenants exists among other landlords who might not be participating in the Section 8 program. The median household income in the area is around $224,324, which suggests that potential tenants might have a harder time affording market-rate rents without assistance, making Section 8 an attractive option for both landlords and tenants.
To determine if a Section 8 rental is right for you, verify that your property meets the Housing Quality Standards (HQS) required by the program. This ensures that your rental unit is safe, decent, and habitable, which is necessary to receive the voucher payments.
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.