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 | $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 |
|---|---|---|---|---|
| 3BR | $1,570 | $294,856 | 0.53% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12857 reveals a market that leans towards providing steady cash flow rather than high-yield, low-stability opportunities. The Federal Market Rent (FMR) for the area is set at $1260 for fiscal year 2024, which is significantly higher than the market rent of $790. This discrepancy suggests that there is a substantial opportunity for landlords participating in the Section 8 program to achieve higher rental yields compared to the general market.
However, the stability indicators paint a different picture. With only 11.2% of residents being renters, the market has a lower demand for rental properties, making it less volatile but also limiting the potential for rapid growth or high turnover. The median home value in the area is $236,309, which indicates a relatively stable housing market. Additionally, the average household income of $68,500 supports a moderate level of economic stability, suggesting that tenants who receive Section 8 assistance can likely afford their portion of the rent.
The lack of data on days on market (DOM) makes it difficult to assess how quickly properties might be rented out, but given the low percentage of renters, it's reasonable to infer that the rental market is not highly competitive. Therefore, landlords should expect a consistent, albeit modest, cash flow from properties in this ZIP code, rather than the potential for high returns seen in more volatile markets.
In conclusion, ZIP 12857 is best classified as a steady-cashflow zone due to the combination of a higher FMR compared to market rent, a low percentage of renters indicating stability, and moderate home values and incomes supporting a predictable rental environment. Landlords can expect to earn a strong yield of $1260 per unit under Section 8, while the overall market remains stable and less prone to sudden changes.
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.