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 | $1,190 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $351,395 | 0.47% | F |
| 3BR | $1,970 | $488,888 | 0.4% | F |
| 4BR | $2,170 | $524,031 | 0.41% | F |
| 5BR | $2,517 | $526,834 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 12019, located in Ballston Lake, NY, offers a unique balance between yield and stability that appeals to both landlords and small-portfolio investors. With a Fair Market Rent (FMR) of $1,430 for the fiscal year 2024, it significantly outpaces the market rent of $1,242. This difference translates into higher potential rental income when compared to the average market rates, making it a lucrative area for those seeking to maximize their yields.
However, the stability of the market is a different story. The ZIP code has a relatively low percentage of renters at 18.7%, indicating that a large portion of the population owns their homes. Additionally, the median household income is listed at $112,420, which suggests that residents have a strong financial base and are less likely to default on rent payments. Despite these positive indicators, the lack of data on days on market (DOM) makes it challenging to assess the ease of renting properties in this area.
The median home value of $485,572 in ZIP 12019 also plays a role in the market dynamics. While this figure might seem high, it aligns with the higher income levels and could indicate a robust local economy capable of supporting rental prices above the market average. However, the high home values might also deter some potential renters who prefer lower-cost housing options, leading to increased competition among landlords and possibly affecting vacancy rates.
In summary, ZIP 12019 presents itself as a high-yield market due to the favorable FMR compared to the market rent. The stability is moderate, given the strong income levels but the low percentage of renters. Investors should be prepared for a competitive rental environment and consider the possibility of longer vacancy periods. This classification places the area somewhere in between a high-yield/low-stability flip-style market and a steady-cashflow zone, leaning towards higher yield potential with manageable risk.
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.