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 |
|---|---|---|---|---|
| 2BR | $1,540 | $299,080 | 0.51% | F |
| 3BR | $1,840 | $382,356 | 0.48% | F |
| 4BR | $2,030 | $486,042 | 0.42% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP 12067 (Feura Bush, NY) reveals a distinct picture when comparing the annualized Fair Market Rent (FMR) and market rent figures against the median home value.
Using the annualized 2BR FMR of $1190 for FY 2024, the potential rental income can be calculated as follows:
In contrast, using the market rent figure of $1,104 (from the Census ACS), the calculation shifts:
The difference between these two gross yields is marginal, with the FMR scenario offering a slightly higher return at 3.83% versus the market rent scenario at 3.55%. However, given the low renter density of 9.4%, the FMR scenario might be less realistic. Landlords should consider that a lower proportion of residents renting homes could indicate a reduced demand for rental properties, making it challenging to consistently secure tenants willing to pay the FMR rate.
The N/A-day DOM (Days on Market) suggests incomplete data regarding how long it takes for properties to be rented out, which could imply either rapid leasing or prolonged vacancy periods depending on the underlying cause. Incomplete DOM data makes it difficult to accurately predict the speed at which a property can be leased, thus adding uncertainty to the investment decision.
Given the circumstances, the market rent scenario with a gross yield of 3.55% appears more practical. It reflects the actual rental environment and tenant willingness to pay in Feura Bush, NY. While the FMR provides a theoretical maximum, the reality of the local rental market and the relatively low renter population density suggest that achieving the FMR consistently may be unrealistic.
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.