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 real estate market in ZIP code 12976 presents a nuanced picture that landlords and small-portfolio investors should consider carefully. With a median home value at $401,849, the area maintains a solid foundation for investment. However, the lack of percentage of listings being reduced and the median days on market (DOM) suggest a stable market without significant pressure from sellers to lower their prices rapidly. This stability can imply that landlords have a certain degree of pricing power, especially if they manage to keep their rental properties well-maintained and attractive to tenants.
On the rental side, the Fair Market Rent (FMR) for ZIP 12976 is set at $1,040 for the fiscal year 2026, which aligns with the current market rates, though specific figures were not provided. The alignment between FMR and market rents suggests that the rental market is also stable, neither experiencing rapid growth nor decline. Landlords can expect to maintain their current rent levels, assuming they are already in line with the FMR, without having to make significant adjustments to stay competitive.
For long-term investors, the setup implies a cautious approach towards appreciation. While the median home value provides a benchmark for the current state of the market, the absence of recent reductions and the stable DOM indicate that there might be limited upward pressure on property values in the short term. Long-term appreciation will likely depend on broader economic factors, such as job growth, population trends, and infrastructure developments, rather than speculative price increases. Investors should focus on the steady income generated from rentals and the potential for gradual appreciation tied to the overall health of the local economy.
In summary, the combination of a median home value at $401,849, stable DOM, and aligned FMR and market rents suggests a balanced market. Landlords and small-portfolio investors can leverage this stability to maintain their pricing power and focus on long-term strategies that capitalize on steady income and moderate appreciation rather than short-term gains. The absence of significant downward pressure on prices and rents supports a holding strategy, where investors can benefit from consistent returns and avoid the risks associated with volatile markets.
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.