Location: Franklin County, NY | Metro: Franklin County, NY
| 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 |
U.S. Census Bureau data (2024)
The analysis for ZIP 12939 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR stands at $1,040. However, the market rent for ZIP 12939 is notably lower at $901 per month, based on recent data from RenewalReply. This represents a gap of $139, or approximately 13.4%, indicating that the market rent is significantly below the FMR.
In ZIP 12939, where 30.6% of residents are renters, the median income is $51,635. The lower market rent makes it a yield play for landlords participating in the Section 8 program. Despite the FMR being higher than the actual market rent, landlords can still achieve positive cash flow while providing affordable housing options to low-income families.
The median home value in ZIP 12939 is $278,100, which is slightly above the national average but is not directly relevant to rental properties. Nonetheless, it provides context regarding the overall property values in the area.
Given the economic profile of the region, with a substantial portion of residents renting and a median income of $51,635, landlords can benefit from the Section 8 program by receiving government subsidies that bridge the gap between market rent and FMR. This ensures that landlords are not underpaid and can maintain their investment properties while offering stable housing to voucher tenants.
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.