Location: Clinton County, NY | Metro: Clinton County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 12924 is centered around the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,270, while the Census ACS data indicates that the current market rent stands at $1,067. This means there is a gap of $203, which translates to approximately 19% difference favoring the FMR.
This gap makes ZIP 12924 a compelling opportunity for landlords and small-portfolio investors who are willing to accept housing vouchers. Voucher tenants provide a guaranteed source of income that is typically higher than the prevailing market rent. With 78.8% of residents being renters, the demand for rental properties is high, making it easier to fill units with voucher holders. The higher FMR rate ensures that landlords can receive a consistent, above-market rent payment, turning this into a strong yield play.
However, it's important to note that accepting housing vouchers comes with its own set of considerations. Landlords must comply with federal regulations and undergo periodic inspections. Additionally, the administrative process can be time-consuming. Despite these factors, the financial benefits of receiving a higher rent compared to the local market rate can outweigh the costs, especially given the high percentage of renters in the area.
In summary, the discrepancy between the FMR and market rent in ZIP 12924 presents an attractive scenario for landlords interested in maximizing their rental income through Section 8 vouchers. The 19% premium over market rents, combined with a robust rental market, makes this a strategic investment opportunity.
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.