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 | $940 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $255,580 | 0.48% | F |
| 3BR | $1,570 | $351,904 | 0.45% | F |
| 4BR | $1,610 | $393,552 | 0.41% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 12846, Lake Luzerne, NY, presents a nuanced scenario for both landlords and small-portfolio investors. With a median home value of $307,881, the area offers affordable housing options compared to larger metropolitan regions. However, the absence of percentage data on listings that have been reduced and the non-availability of median days on market (DOM) figures suggest a stable market without significant downward pressure on prices. This stability can be interpreted as an indication that sellers maintain considerable pricing power over the next 12-24 months.
On the rental side, the Forward Monthly Rent (FMR) for ZIP 12846 in fiscal year 2024 is set at $1410, whereas the current market rent, according to the Census ACS, stands at $951. The disparity between the FMR and the actual market rent points towards potential upward adjustments in rental prices. Landlords and investors can expect increased demand for rental properties as the market adjusts to align with the FMR, which could lead to higher occupancy rates and potentially better returns on investment.
For long-term hold investors, the appreciation thesis in Lake Luzerne, NY, is grounded in the area's natural beauty and proximity to recreational opportunities, which attract second-home buyers and seasonal renters. The combination of a relatively low median home value and the anticipated increase in rental prices due to the FMR suggests that property values could appreciate gradually. However, the lack of historical price reduction and DOM data implies that while appreciation is possible, it will likely be modest and steady rather than rapid.
In conclusion, the setup in Lake Luzerne, NY, supports a strategy focused on maintaining current property values and gradually increasing rental income. Investors should prepare for a market that favors stability and gradual growth, leveraging the area's unique selling points to ensure consistent demand and 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.