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 | $128,469 | 0.94% | C |
| 4BR | $1,420 | $144,752 | 0.98% | C |
U.S. Census Bureau data (2024)
ZIP code 12937, located within the Franklin County, NY metro area, presents a unique profile when compared against typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 12937 is set at $1,040 for fiscal year 2026, which is notably higher than the average market rent of $585. This indicates that while the government's estimate of what constitutes a fair rent price is higher, actual rents in the area are lower, suggesting potential opportunities for landlords who can offer quality housing at competitive rates.
The median home value in ZIP 12937 stands at $112,418, which is likely below the county-wide average, positioning it as a value pocket rather than a premium sub-market. This lower home value could be attractive to first-time buyers or investors looking to enter the market at a lower price point. However, it also implies that property improvements or upgrades might not yield as high a return on investment as in more expensive areas.
A key factor for Section 8 real estate analysis is the renter share, which in ZIP 12937 is 11.5%. This percentage is significant because it suggests a notable portion of the population relies on rental assistance. When combined with the below-metro average home values, this points to ZIP 12937 being an ideal location for landlords interested in participating in the Section 8 program. The discrepancy between higher FMRs and lower market rents, coupled with a substantial renter share, creates a scenario where properties can attract tenants without requiring landlords to offer rents above the actual market rate.
In summary, ZIP 12937 appears to be a value pocket within the Franklin County, NY metro, offering opportunities for landlords through its lower home values and significant renter share, especially those interested in the Section 8 program. The area's characteristics make it stand out as a strategic investment choice for small-portfolio investors seeking a balance between manageable property costs and accessible tenant pools.
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.