Location: Glens Falls, NY | Metro: Glens Falls, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,610 |
| 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)
The rent math in ZIP 12887 does not favor landlords. The Federal Market Rent (FMR) set at $1170 for FY 2024 exceeds the market rent, which is reported at $972 according to the Census ACS. This discrepancy suggests that properties participating in the Section 8 program may struggle to attract tenants willing to pay the higher FMR.
Acquisition in this area is relatively affordable. The median home value stands at $157,981. However, the lack of data on days on market (DOM) and the low percentage of homes that have been discounted (0.1%) indicates limited competition and a stable market, making it easier to purchase properties without facing significant bidding wars.
Tenant demand is moderate. With a total population of 4,691, the renter share is 27.0%. This implies that about 1,266 individuals are potential renters. While this number represents a sizable pool of tenants, the overall demand may not be robust enough to sustain high rents or extensive property management efforts.
Verdict: ZIP 12887 presents a mixed opportunity for landlords and small-portfolio investors. Although the acquisition cost is low, the mismatch between FMR and market rent could lead to difficulties in attracting tenants. Additionally, while there is a moderate level of tenant demand, it might not be sufficient to support the higher rental rates required by the Section 8 program. Investors should carefully consider these factors before entering the market in this ZIP code.
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.