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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $129,750 | 0.78% | D |
| 3BR | $1,210 | $153,677 | 0.79% | D |
| 4BR | $1,420 | $172,385 | 0.82% | C |
U.S. Census Bureau data (2024)
The ZIP code 12966, located in North Bangor, NY, is part of Franklin County and stands out due to its unique demographic and economic characteristics. With a population of 2,656 residents, only 9.6% of whom rent their homes, it has a relatively low rental demand. The median household income in this area is $65,893, which is slightly above the national average, and the median home value is $135,742, indicating a moderate cost of living.
When it comes to the economics of Section 8 vouchers in ZIP 12966, the Federal Market Rent (FMR) for fiscal year 2026 is set at $980 per month for metropolitan areas. This is notably higher than the current market rent of $889, based on Census ACS data. Landlords who accept Section 8 vouchers in this ZIP code can expect to receive a subsidy that exceeds the typical market rate, potentially offering a financial advantage over other investment opportunities where FMRs align more closely with actual market rents.
The data signature for ZIP 12966 suggests a stable environment. The low percentage of renters indicates a strong preference for homeownership among the local population, which could translate into fewer rental units available and less competition for landlords. Additionally, the discrepancy between the FMR and the actual market rent means that landlords can benefit from a higher rental income when participating in the Section 8 program. This stability and potential financial gain make North Bangor an attractive location for landlords and small-portfolio investors looking to secure steady returns while supporting affordable housing initiatives.
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.