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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,570 | $310,012 | 0.51% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP 12849 is anchored by the significant disparity between the Fair Market Rent (FMR) and the actual market rent. For FY 2024, the FMR stands at $1010. However, recent data from Zillow indicates that the average market rent in ZIP 12849 is now $3,806. This means the gap between FMR and market rent is approximately $2,796, representing a 277% difference.
Given that the FMR is significantly lower than the market rent, landlords and small-portfolio investors must understand the financial implications of accepting housing voucher tenants. While these tenants provide consistent, government-backed rent payments, the discrepancy between FMR and market rates can result in a loss of potential revenue. For instance, if a landlord charges the FMR rate of $1010, they would be leaving a substantial amount of money on the table compared to the open-market rate of $3,806.
In ZIP 12849, the rental market is characterized by a relatively low percentage of renters at 26.0%, which contrasts with the high median home value of $258,921. The median income in this area is not specified, but it is important to note that the high rental prices could indicate a strong economy with sufficient demand for rental units despite the lower FMR. This suggests that landlords should carefully consider the financial impact of accepting voucher tenants below market rates.
To summarize, the FMR in ZIP 12849 is substantially lower than the current market rent, creating a scenario where landlords might face a significant financial disadvantage by accepting housing vouchers. Landlords should weigh this against the benefits of guaranteed rent payments and the overall economic conditions of the area.
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.