Location: Essex County, NY | Metro: Essex County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
ZIP code 12855, located within the Essex County, NY metro area, presents an interesting case for real estate analysis. The Fair Market Rent (FMR) for this ZIP is set at $1,190 for fiscal year 2026, which is a key figure for landlords and investors involved with Section 8 housing.
Comparatively, typical ZIP codes in Essex County have varying FMRs, but without specific data on other ZIP codes, we can infer that 12855's FMR aligns with or is slightly below the average for the county, considering the wide range of rents in different areas. The absence of market rent data for ZIP 12855 suggests limited available information on private rental rates, which could indicate either a lack of rental activity or a focus primarily on homeownership.
The median home value in ZIP 12855 is $185,803, which is likely representative of the overall housing market in the area. This figure is indicative of a moderate price point for homes, suggesting that 12855 is neither a premium sub-market nor a value pocket within the Essex County metro, but rather a mid-tier neighborhood.
With a 5.0% renter share, it is evident that the majority of residents in ZIP 12855 own their homes. This low percentage of renters contrasts with areas where higher renter shares might suggest a greater potential for Section 8 properties. However, the combination of a relatively low FMR and moderate home values indicates that 12855 could be considered a sweet spot for Section 8 investments, especially if the low renter share is due to a preference for homeownership among those who can afford it.
To summarize, ZIP 12855 stands out as a mid-tier neighborhood within the Essex County, NY metro, with a moderate home value and a Fair Market Rent that supports Section 8 tenancy. The low renter share suggests a strong inclination towards homeownership, making it a potentially stable investment for landlords and investors looking for a balance between rental income and property appreciation.
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.