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 | $750 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $206,761 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 12969 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, especially when comparing the non-existent market rent data to the $1,110 Fair Market Rent (FMR) for the fiscal year 2026, which is based on metro averages. This discrepancy suggests that tenants might be less inclined to stay in properties priced at the FMR level, leading to higher turnover rates.
Vacancy exposure is another issue, given the lack of data on days on market (DOM). This absence indicates an uncertainty regarding how quickly a property can be rented out, potentially exposing landlords to periods of no rental income. The typical home value in this area is $153,017, while the median income is $65,469. This combination can lead to deferred maintenance issues, as the income levels might not support the financial health required for timely upkeep of properties.
However, these risks are offset by the high renter density in the area, with 22.7% of residents being renters. High renter density typically translates into a greater demand for rental housing, including those who rely on Section 8 vouchers. This demand can help mitigate some of the risks associated with vacancy and turnover, as there is a steady pool of potential tenants.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 12969 is moderate. While there are significant challenges, the high renter density provides a counterbalance that can help ensure consistent occupancy and reduce financial strain.
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.