Location: Greene County, 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 | $1,110 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,850 | $346,595 | 0.53% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12046 reveals several key points that landlords and small-portfolio investors should consider before making investment decisions.
The rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the area is set at $1240 for the fiscal year 2024. However, without specific market rent data, it's challenging to compare FMR against actual rental rates. This suggests that landlords might struggle to find tenants willing to pay the FMR, especially if market conditions are less favorable.
Acquisition in this ZIP code is relatively affordable given the median home value of $316,640. Although the days on market (DOM) and the percentage of homes requiring price cuts are not available, an affordable entry point can be beneficial for investors looking to build a portfolio. It's important to note that the lack of detailed market performance indicators could signal either a stable market or insufficient data to make precise assessments.
Tenant demand is low in ZIP 12046. With a total population of only 358 individuals and a mere 7.2% of residents being renters, finding suitable tenants may prove difficult. The small number of potential renters makes it hard to sustain a profitable rental business, particularly when considering the limited overall population size.
In conclusion, while the median home value in ZIP 12046 presents an affordable opportunity for acquisition, the combination of uncertain rent math and low tenant demand suggests that this area may not be a viable option for most landlords and small-portfolio investors. The small population and low percentage of renters indicate a challenging environment for sustaining a profitable rental property. Investors should proceed with caution and seek additional local market insights before committing capital to this ZIP code.
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.