Section 8 Fair Market Rent (FMR) for ZIP 12995 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 12995, located in Franklin County, New York, are straightforward once you understand how the subsidy works. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $1,040 per month for fiscal year 2026. This figure is specifically tailored for this area, reflecting the unique rental market conditions.

Section 8 operates on a formula where the tenant contributes a portion of their income towards rent, typically 30% of their adjusted monthly income. The rest is covered by the housing authority, up to the SAFMR limit. For instance, if a tenant's portion is $300, the housing authority will cover the difference between this amount and the SAFMR, which is $740 in this case. This means the landlord receives $1,040 in total.

Utility allowances are also factored into the equation but do not directly increase the base rent reimbursement. They are intended to help cover the tenant's utility costs and are calculated separately based on the size of the unit and the location. In ZIP 12995, the utility allowance for a two-bedroom unit can vary, but it does not affect the $1,040 base rent payment.

To illustrate, let's assume a tenant's income requires them to pay $300 towards the rent. The housing authority would then pay the remaining $740, making the total reimbursement to the landlord $1,040. If the local market rent is higher than the SAFMR, the landlord will have to absorb the difference, leading to a reimbursement gap. Conversely, if the local market rent is lower, the landlord could potentially see a surplus.

In ZIP 12995, due to the lack of specific local market rent data, we cannot calculate the exact surplus or gap. However, landlords should be aware that the reimbursement is fixed at $1,040, regardless of the actual market rates. It is crucial to compare this amount against your own expenses and desired profit margins when deciding whether to participate in the Section 8 program.

For clarity, the SAFMR of $1,040 is the maximum amount that can be reimbursed by the housing authority for a two-bedroom apartment in ZIP 12995. Landlords must ensure that their rent requests do not exceed this amount to receive full reimbursement under the Section 8 program.

Data Sources: FMR data from HUD (2027).

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.