Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
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 | $1,440 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,370 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,990 | $312,192 | 0.64% | D |
| 3BR | $2,370 | $394,648 | 0.6% | D |
| 4BR | $2,620 | $483,940 | 0.54% | F |
| 5BR | $3,039 | $540,144 | 0.56% | F |
U.S. Census Bureau data (2024)
The yield in ZIP 12018 is relatively high, considering the Fair Market Rent (FMR) for a unit at $1500 is above the market rate of $1485. This indicates a potential for positive cash flow if the property qualifies for Section 8. With a median home value of $373,149, properties in this area are not inexpensive, but the higher FMR suggests good rental income.
The stability of the market is another matter. Only 16.3% of residents are renters, which is a low percentage compared to many other areas. This could imply a less stable rental market due to fewer available tenants. Additionally, the median household income of $126,620 suggests that the majority of residents can afford to purchase homes rather than rent, further indicating a potentially unstable rental environment.
To determine whether this is a high-yield/low-stability flip-style market or a steady-cashflow zone, we must consider both yield and stability. The yield is favorable, with the FMR being higher than the market rate, but the stability is questionable given the low percentage of renters and the relatively high median income.
Based on these figures, ZIP 12018 appears to be more of a moderate market. It offers decent cash flow opportunities but lacks the tenant base necessary for high stability. Landlords should carefully evaluate the local rental demand and competition before investing in this area.
Key Figures:
This analysis provides a snapshot of the rental market in ZIP 12018, suggesting a balance between yield and stability that may appeal to some investors but not to others seeking a more stable tenant pool.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.