Location: Clinton County, NY | Metro: Clinton 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 | $990 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $186,898 | 0.68% | D |
| 3BR | $1,530 | $264,740 | 0.58% | F |
| 4BR | $1,730 | $330,998 | 0.52% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 12962, Morrisonville, NY, operate under specific parameters set by the federal government. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2026 is $1,340. This figure is crucial because it sets the maximum amount that a Section 8 voucher can cover for rent in this particular ZIP code. It's important to note that while the SAFMR is $1,340, the local market rent as per the Census ACS is $1,064, indicating a discrepancy between the federally determined rent and the actual market conditions.
A landlord participating in the Section 8 program receives payments based on the voucher holder's share of the rent and any utility allowances. Typically, the tenant contributes 30% of their adjusted income toward the rent. The remaining amount up to the SAFMR is covered by the Housing Authority. Utility allowances vary but are generally capped at a certain amount per month, which also comes from the voucher. In ZIP 12962, if a tenant's share of the rent is $320 (assuming an adjusted income of $1,067), then the Housing Authority would pay the difference between the tenant's contribution and the SAFMR, which in this case is $1,020, bringing the total payment to $1,340.
However, since the local market rent is lower at $1,064, the landlord might be inclined to set the rent at this level. If the landlord sets the rent at $1,064, the tenant's contribution remains at $320, and the Housing Authority would pay the remaining $744, totaling the local market rent of $1,064. This scenario leaves the landlord with no surplus or shortfall compared to the market rent, but still receiving the full market rate for the property.
In summary, landlords in ZIP 12962 who participate in the Section 8 program can expect a reimbursement that covers the local market rent entirely, without surplus or significant shortfall. The SAFMR of $1,340 ensures that the voucher can cover up to this amount, but the actual reimbursement will align with the lower local market rent of $1,064, ensuring the landlord receives the prevailing market rate for a two-bedroom unit.
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.