Location: Essex County, 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 | $960 |
| 1 Bedroom | $970 |
| 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 | $288,652 | 0.42% | F |
| 3BR | $1,570 | $325,391 | 0.48% | F |
| 4BR | $1,610 | $400,413 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 12853 in North Creek, NY, presents an interesting balance between yield and stability for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 12853 in fiscal year 2024 is set at $1,280, significantly higher than the market rent of $915. This suggests a potential opportunity for higher rental yields if properties can be rented at the FMR rate.
However, the median home value in this area is $302,006, which is notably lower than some urban centers but still represents a significant investment. Given that only 16.4% of residents are renters, the market is relatively stable, indicating a lower risk of vacancy and a consistent tenant pool.
The median household income in ZIP 12853 is $57,950, which supports the rental market but does not suggest a high demand for luxury rentals. Therefore, the market leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market.
To summarize, ZIP 12853 offers a moderate rental yield due to the gap between FMR and market rates, while maintaining stability through a consistent tenant base and reasonable home values. This makes it suitable for investors seeking reliable, long-term returns rather than quick flips.
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.