Section 8 Fair Market Rent (FMR) for ZIP 12022 - 2027

Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA

Investment Score for ZIP 12022

N/A

Monthly Rent (2BR)

$1,710

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,240
1 Bedroom	$1,420
2 Bedrooms	$1,710
3 Bedrooms	$2,040
4 Bedrooms	$2,250
5 Bedrooms	$2,610
6 Bedrooms	$2,923
7 Bedrooms	$3,157
8 Bedrooms	$3,315

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$2,040	$262,509	0.78%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,120

Median Household Income

$96,875

Housing Units

457

Renter Percentage

23.2%

Occupancy Rate

86.7%

Renter Occupied

ZIP code 12022, located in upstate New York, offers a stable real estate market with a mix of rental and owner-occupied properties. The area is known for its blend of suburban and rural characteristics, providing both quiet living and proximity to amenities.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 12022 for fiscal year 2024 is set at $1,250.
The average market rent for a similar unit, according to the latest Census American Community Survey (ACS), is $1,117.
The median home value in the area is $245,359, reflecting a moderate housing market.
Renters make up 23.2% of the population, indicating a sizeable segment interested in leasing options.
The median household income in ZIP 12022 is $96,875, suggesting residents have the financial capability to support rental rates and home values.
Despite the lack of data on days on market (DOM), the consistency between FMR and market rents indicates a balanced demand and supply scenario.

Synthesizing these points, investors can see that ZIP 12022 presents a viable opportunity for both rental and purchase investments. The close alignment between the Fair Market Rent and actual market rents signals a predictable and stable market, while the median home value suggests a reasonable entry point for property acquisition. The substantial share of renters and high median income levels further reinforce the potential for steady cash flows through rental properties. Overall, the area's balanced real estate landscape makes it a reliable choice for landlords and small-portfolio investors looking for consistent returns.

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.