Location: Franklin County, NY | Metro: Franklin County, NY
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 | $710 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,210 | $176,453 | 0.69% | D |
| 4BR | $1,420 | $196,352 | 0.72% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 12917 stands at $62,750, which places significant constraints on rental affordability. At the market rate of $853 per month, as reported by the Census ACS, a household would need to allocate a substantial portion of their earnings towards rent. This makes the area challenging for renters who rely solely on their income without additional financial support.
To put this into perspective, the Federal Market Rent (FMR) standard for the metro area in fiscal year 2026 is set at $1,080. This figure represents the amount that housing authorities aim to cover through Section 8 vouchers, effectively setting a higher benchmark for rental costs compared to the current market rate. However, it also highlights a discrepancy; renters with only their income might struggle to meet even the lower market rate of $853, let alone the FMR standard.
Given that 13.3% of the 1,221 residents are renters, there is a notable but limited pool of potential tenants. The affordability gap means that landlords face stiff competition when seeking tenants willing and able to pay the market rate. Moreover, the difference between the market rate and the FMR suggests that landlords who accept Section 8 vouchers could attract a broader tenant base, including those who cannot afford the market rate on their own.
For landlords considering their strategy, accepting Section 8 vouchers provides a steady stream of income guaranteed by the government, albeit at the FMR rate of $1,080. While this rate is higher than the current market rate, it ensures a stable occupancy and reduces the risk of vacancies. On the other hand, relying on cash-paying tenants means competing in a market where many households cannot afford the higher rates, potentially leading to prolonged vacancy periods.
The takeaway is clear: landlords in ZIP 12917 should consider the benefits of accepting Section 8 vouchers. It not only broadens their tenant pool but also offers financial stability in an area where rental affordability is a critical issue.
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.