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 | $720 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 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 | $1,220 | $297,724 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 12970 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, with the market rent at $1,034 being slightly higher than the Fair Market Rent (FMR) of $1,020 for fiscal year 2026. This minor difference can lead to frequent changes in occupancy as tenants seek the best deals, impacting long-term stability and increasing management costs.
Vacancy exposure is another critical issue. The average days on market (DOM) for rental properties in this area is not available, which suggests there might be unpredictable periods where properties remain unoccupied. Unfilled vacancies can lead to financial strain, especially when maintenance and property taxes continue to accrue without rental income.
Deferred maintenance poses a threat due to the typical home value of $305,483 and a median income of $84,250. Landlords must ensure that properties meet the necessary standards for the Section 8 program, which can require substantial upfront investments. Given the median income, residents may have limited funds to contribute towards maintenance costs, placing the burden squarely on the landlord.
However, these risks are somewhat mitigated by the high renter share of 35.8%. A large proportion of renters typically translates into higher demand for housing vouchers, making it easier to find eligible tenants willing to use their vouchers in this area. The concentration of renters also indicates a robust rental market, which can help maintain steady occupancy rates despite the challenges.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.