Location: Glens Falls, NY | Metro: Glens Falls, NY MSA
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 12854 in fiscal year 2024 is set at $1210. This figure represents the payment standard for Section 8 vouchers in your area, meaning that if you choose to participate in the program, this is the maximum amount that the Housing Choice Voucher program will pay towards a tenant's rent. It does not necessarily reflect the actual rent you can charge, but it sets an upper limit on the subsidy.
While the local median rent for ZIP 12854 is listed as N/A, we can still analyze the potential demand for Section 8 rentals. The renter share, which is currently at 0.0%, suggests that there is a significant demand for affordable housing options. Landlords should expect a high number of applicants interested in Section 8 properties, particularly those who meet income eligibility requirements and are seeking stable housing solutions.
The acquisition cost for properties in ZIP 12854 is also noted as N/A. However, this does not diminish the importance of understanding the FMR when deciding whether to accept Section 8 tenants. When setting your rent, ensure that the total rent does not exceed the FMR, as any amount above $1210 must be paid by the tenant directly. This could affect the overall occupancy rate and the financial feasibility of your investment.
To make a well-informed decision about accepting a Section 8 rental, verify that your property meets the Housing Quality Standards (HQS) required by the program. These standards are designed to ensure that the homes rented through Section 8 are safe, decent, and sanitary. Failure to meet these criteria could result in disqualification from the program, leading to potential loss of income.
In summary, the FMR of $1210 for ZIP 12854 provides a benchmark for subsidy payments, and while local median rents are unavailable, the high demand indicated by the renter share makes Section 8 participation a viable option for landlords and small-portfolio investors. Ensure your property meets HQS to avoid any issues and secure your place in the program.
Data Sources: FMR data from HUD (2027). 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.