Section 8 Fair Market Rent (FMR) for ZIP 12040 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,260
1 Bedroom	$1,450
2 Bedrooms	$1,740
3 Bedrooms	$2,080
4 Bedrooms	$2,290
5 Bedrooms	$2,656
6 Bedrooms	$2,975
7 Bedrooms	$3,213
8 Bedrooms	$3,374

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$57,955

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The zip code 12040, located in upstate New York, is a suburban area known for its quiet living and proximity to natural landscapes. This region offers a mix of residential properties including single-family homes and some multi-family units, catering to both homeowners and renters.

Fair Market Rent (FMR) for a 1-bedroom apartment in zip code 12040 for fiscal year 2024 is set at $1190.
The market rent for the area is currently not available, which could indicate a lack of rental activity or data.
The median home value in this zip code is not available, suggesting that detailed housing price information might be sparse.
Renter share in the area is 0.0%, indicating that the majority of residents own their homes rather than renting.
The average number of days on the market (DOM) is not available, which could mean there's limited recent sales data to draw from.
The median household income in zip code 12040 is $57,955, providing insight into the economic status of the residents.

In summary, the zip code 12040 presents a challenging market for rental investments due to the low renter share and the unavailability of key market metrics such as market rent and median home values. The Fair Market Rent figure for 1-bedroom apartments is useful for setting expectations, but the lack of recent rental activity suggests that landlords and small-portfolio investors should proceed with caution. Given the strong homeowner preference, investing in rental properties may not yield the desired returns unless targeted towards specific segments of the population, such as students or seasonal workers. The median income figure indicates a middle-class area, but without more comprehensive data, it's difficult to make precise investment recommendations.

Data Sources: FMR data from HUD (2027). 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.