FMR is below market; voucher rent may lag private rents.
0.60
1 BR
1 BR
0.61ratio
FMR$1,020
Market$1,660
vs market-$640
FMR is below market; voucher rent may lag private rents.
0.61
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 12848 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 12848 (Middle Falls, NY) is $1,280 a month. That is up 0.8% from $1,270 in FY 2026. Middle Falls is in the Glens Falls, NY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,347. Among 29 ZIP codes in Washington County, 12848 is tied for the 20th-highest two-bedroom rent (county range $1,220–$1,560). The median county two-bedroom FMR in New York is $1,385, so ZIP 12848 is 8% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 12848
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$980
$1,010
+3.1%
$909–$1,111
1BR
$1,000
$1,020
+2.0%
$918–$1,122
2BR
$1,270
$1,280
+0.8%
$1,152–$1,408
3BR
$1,640
$1,660
+1.2%
$1,494–$1,826
4BR
$1,680
$1,680
0.0%
$1,512–$1,848
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 12848
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,010
$1,020
$1,280
$1,660
$1,680
FY 2026
$980
$1,000
$1,270
$1,640
$1,680
FY 2025
$980
$1,020
$1,280
$1,660
$1,700
FY 2024
$890
$970
$1,210
$1,570
$1,610
FY 2023
$760
$860
$1,070
$1,390
$1,440
Two-bedroom rent in nearby Washington County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 12848?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,347, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,212 to $1,482 a month; under the ZIP-level Small Area FMR of $1,280 it would be $1,152 to $1,408. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 12848 in?
ZIP 12848 is in the Glens Falls, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,347.
How much did fair market rent change in ZIP 12848 for FY 2027?
The two-bedroom FMR rose 0.8%, from $1,270 in FY 2026 to $1,280 in FY 2027. Since FY 2023 it has risen 19.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set