Location: Glens Falls, 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 | $1,000 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $230,722 | 0.55% | F |
| 3BR | $1,630 | $269,825 | 0.6% | D |
| 4BR | $1,660 | $305,082 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 12885, located in Warrensburg, NY, represents a modest-sized rental market with a population of 4,444 residents. With 22.1% of the population being renters, it indicates that this area is neither heavily dominated by homeowners nor predominantly a renter-heavy community. However, there is still a notable presence of renters who could potentially be utilizing Section 8 housing vouchers.
The median household income in Warrensburg stands at $59,429, which provides a benchmark for understanding the financial capacity of potential tenants. The market rent in this area is set at $905 per month, representing approximately 18.6% of the median household income. This percentage suggests that the average renter can comfortably afford the typical monthly rent without significant strain on their finances.
Comparing the market rent to the Fair Market Rent (FMR) of $1,270 for FY 2024, it's evident that the actual rent is lower than the FMR. This discrepancy implies that landlords in Warrensburg have some flexibility in pricing their rentals below the FMR while still remaining competitive in the local market. It also means that the cost of living in terms of housing is somewhat less expensive compared to the broader regional standards, which could attract tenants seeking affordable housing options.
A landlord in Warrensburg should anticipate a tenant profile that includes individuals and families relying on Section 8 vouchers due to the relatively low median income and the presence of a moderate rental market. These tenants will likely have their rent subsidized to an amount that does not exceed the FMR, making it feasible for them to live within the ZIP code without overextending their budget. The subsidy would cover up to $1,270, but the actual market rent of $905 is more reflective of what tenants are paying, indicating a healthy balance between affordability and profitability for landlords.
In summary, Warrensburg presents a balanced environment for landlords and small-portfolio investors, offering a niche for those willing to cater to a Section 8 tenant pool. While not exclusively a renter-heavy area, the combination of a moderate rental market and a sizeable portion of the population using housing vouchers creates a viable opportunity for property owners to manage properties effectively while serving a segment of the community that values affordable housing solutions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.