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 ZIP code 12862 stands out due to its small resident population of just 127 individuals, making it one of the least populated areas analyzed. With 28.8% of the residents renting their homes, the rental market is relatively modest compared to other regions. Notably, there is currently insufficient data to determine the median income and median home value for this area, which leaves some ambiguity regarding the economic status of the residents.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 12862 is set at $1270 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program. However, without a defined market rent for the area, it's challenging to assess how the FMR compares to typical rental rates. The absence of market rent data suggests that landlords should closely monitor local trends to ensure that their rental prices remain competitive while still being covered by the vouchers.
Given the limited data available on ZIP 12862, the overall economic environment appears transitional. The lack of established median values and market rents indicates that the area might be undergoing changes or has a unique composition that does not fit standard economic models. Landlords and small-portfolio investors should proceed with caution, focusing on the FMR as a reliable benchmark for setting rental prices. Additionally, they should stay informed about any updates to the local housing market to make well-informed decisions.
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.