Section 8 Fair Market Rent (FMR) for ZIP 12043 - 2027

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

Investment Score for ZIP 12043

Monthly Rent (2BR)

$1,540

Median Price (2BR)

$213,180

1% Rule

0.72%

Annual Yield

8.67%

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	$1,100
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

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
2BR	$1,540	$213,180	0.72%	D
3BR	$1,840	$264,775	0.69%	D
4BR	$2,030	$293,970	0.69%	D
5BR	$2,355	$330,004	0.71%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

8,287

Median Household Income

$64,583

Housing Units

3,570

Renter Percentage

41.6%

Occupancy Rate

90.5%

Renter Occupied

1,343

Cobleskill, NY, located in Schenectady County, is a small town known for its agricultural heritage and proximity to educational institutions such as SUNY Cobleskill. This area offers a mix of residential properties, including both rental units and owner-occupied homes, making it a viable market for real estate investors looking to diversify their portfolios.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 12043 for fiscal year 2024 is set at $1190, indicating the government's benchmark for affordable housing in the region.
The average market rent for the area, according to the Census American Community Survey, stands at $875 for a typical unit, suggesting that there is potential for rental income growth towards the FMR level.
The median home value in Cobleskill is $251,456, which provides a solid foundation for property investment, considering the relatively stable housing market.
Renters make up 41.6% of the local population, showing a significant demand for rental properties in the area.
The median household income in the ZIP code is $64,583, reflecting the economic status of residents and their ability to pay higher rents or purchase homes.
While the exact number of days on the market (DOM) for rentals is not available, the combination of a moderate median home value and a substantial renter share suggests that properties can be leased out efficiently once listed.

In summary, Cobleskill presents a balanced opportunity for real estate investors. With a notable renter share and a median home value that is neither too high nor too low, the area supports both rental and homeowner markets. The gap between the current market rent and the FMR indicates potential for increasing rental rates without significantly deterring tenants. Given the median income levels, there is reasonable assurance that tenants will be able to meet these increased costs, making Cobleskill a promising location for those interested in long-term, stable 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.