Location: Essex County, NY | Metro: Essex 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 | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $227,585 | 0.51% | F |
| 3BR | $1,420 | $229,596 | 0.62% | D |
| 4BR | $1,630 | $239,881 | 0.68% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 12928, which encompasses Crown Point, NY, stands at $82,813. When juxtaposed against the market rate rent of $1,625, it becomes evident that the average household faces a significant financial challenge in affording housing without assistance. The disparity between income and rent is stark, indicating that many residents may struggle to pay the market rate.
To put this into perspective, let’s consider the federal payment standard for Section 8 vouchers. For fiscal year 2026, the Fair Market Rent (FMR) in the area is set at $1,190. This means that a household receiving a Section 8 voucher would have their rent capped at this amount, making it considerably more affordable compared to the market rate.
Given the population of 1,984 and the fact that only 5.7% of these individuals are renters, the competition among landlords is relatively low. However, this also suggests that there is a limited pool of potential tenants who might be able to pay the higher market rate. Landlords should be aware that the majority of residents may find the market rate unaffordable, especially those who do not qualify for assistance programs.
The affordability gap highlights the necessity for landlords to consider both voucher and cash-pay strategies. By accepting Section 8 vouchers, landlords can tap into a segment of the market that would otherwise be unable to afford the $1,625 market rate. This approach ensures a steady stream of tenants willing to pay the $1,190 FMR, reducing the risk of vacancies.
On the other hand, landlords who focus solely on cash-paying tenants must be prepared to deal with a smaller pool of potential renters who can afford the higher costs. This strategy could result in longer vacancy periods if the number of qualified cash-paying tenants is insufficient to fill available units.
Takeaway: Landlords in Crown Point, NY, should diversify their tenant acquisition strategies to include both voucher and cash-paying tenants. Accepting Section 8 vouchers can help secure a reliable tenant base while still maintaining profitability, given the significant affordability gap in the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.