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 |
|---|---|---|---|---|
| 3BR | $1,710 | $1,801,972 | 0.09% | F |
U.S. Census Bureau data (2024)
The ZIP code 12844, located within the Glens Falls, NY MSA, stands out due to its specific characteristics when compared against typical ZIP codes within the same metro area. The Fair Market Rent (FMR) for 12844 in fiscal year 2024 is set at $1250. This figure is crucial for landlords and small-portfolio investors as it reflects the maximum amount that can be charged for a Section 8 voucher.
A notable point is that the market rent for 12844 is listed as N/A, which suggests either limited data availability or that the market rent closely aligns with the FMR, making it a reliable indicator for rental pricing in the area. However, the median home value in 12844 is exceptionally high at $1,622,571, far exceeding what would typically be seen in a standard ZIP code within the Glens Falls, NY MSA. This high valuation indicates a premium sub-market, likely characterized by luxury housing and desirable amenities.
The renter share in 12844 is 14.1%, which is lower than many areas within the Glens Falls, NY MSA that might have higher concentrations of renters. Given the high median home value and the relatively low renter share, it is unlikely that 12844 represents a value pocket for Section 8 participants. Instead, it is more indicative of a premium sub-market where property values are significantly above average.
To further clarify the positioning of 12844 within the Glens Falls, NY MSA, it's important to note that a high renter share coupled with below-average home values often signals a sweet spot for Section 8 properties. However, since 12844 exhibits neither of these conditions, it does not fit the profile of a typical Section 8 sweet spot. Landlords and investors should consider the high-end nature of this ZIP when strategizing their investment decisions, particularly if they are targeting a niche market within the larger Glens Falls, NY MSA.
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.