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 | $1,100 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,840 | $307,662 | 0.6% | F |
U.S. Census Bureau data (2024)
28.2% of residents in ZIP 12041 are renters, indicating a significant portion of the population relies on rental housing. This statistic aligns with the $799 average market rent observed in the area, based on Census ACS data. Landlords and small-portfolio investors should note that the Fair Market Rent (FMR) for ZIP 12041 in fiscal year 2024 is set at $1330, providing a benchmark for rental pricing that can help ensure properties remain competitive and profitable.
$122,143 is the median income in ZIP 12041, which is an important figure for assessing the financial stability of potential tenants. Given this income level, it's reasonable to expect that many renters would qualify for the Section 8 program, which aims to provide affordable housing options for low-income families. The median home value of $272,772 suggests that while homeownership is attainable for some, others may need assistance through programs like Section 8 to afford living in the area.
The lack of specific data on days on market (DOM) and the percentage of homes that have had their prices cut indicates that the local real estate market might be relatively stable, without frequent fluctuations in pricing. However, the absence of these figures also means that there is limited insight into how quickly properties are being rented out or if there are any challenges in maintaining rental rates over time.
In conclusion, ZIP 12041 presents a viable opportunity for Section 8 participation, given the high percentage of renters and the alignment between market rents and the FMR. With the median income supporting tenant eligibility for the program, landlords can expect steady demand for affordable housing units. The verdict on Section 8 in ZIP 12041 is positive, offering a reliable source of tenants for those willing to navigate the program's requirements.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.