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 | $1,280 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $314,851 | 0.57% | F |
| 3BR | $2,140 | $401,476 | 0.53% | F |
| 4BR | $2,350 | $486,080 | 0.48% | F |
| 5BR | $2,726 | $501,140 | 0.54% | F |
U.S. Census Bureau data (2024)
ZIP code 12027, located in Burnt Hills, NY, is situated within the larger Albany-Schenectady-Troy, NY Metropolitan Statistical Area (MSA). When comparing the Fair Market Rent (FMR) of $1910 for ZIP 12027 against the market rent of $2,071, it becomes evident that the subsidized rental rates are significantly lower than the general market conditions. This suggests that ZIP 12027 could be considered a value pocket for tenants seeking affordable housing options.
The median home value in ZIP 12027 stands at $425,653, which is notably higher than what might be found in many other ZIP codes within the same MSA. This indicates that the area is relatively affluent and could be seen as a premium sub-market compared to the broader metropolitan region. However, the 14.0% renter share in ZIP 12027 is lower than the typical renter share in the MSA, suggesting that homeownership is more prevalent here.
Despite the lower renter share, the disparity between the FMR and market rent figures highlights an opportunity for landlords and small-portfolio investors. The FMR of $1910 is set well below the market rent, providing a buffer for those who can secure Section 8 tenants. This makes ZIP 12027 potentially attractive for investors looking to balance risk and reward, given the combination of higher home values and the availability of a government-backed rental program.
To summarize, ZIP 12027 presents itself as a value pocket for subsidized renters due to its low FMR relative to market rents. It also qualifies as a premium sub-market within the MSA, given its high median home value. However, the lower-than-average renter share means that it is less likely to be dominated by rental properties compared to other areas within the MSA. For landlords and investors, the area offers a unique blend of opportunities, particularly in leveraging the Section 8 program to ensure steady, government-supported rental income.
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.