Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| 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 |
The ZIP code 12073 in Unknown, NY has a Fair Market Rent (FMR) of $1190 for fiscal year 2024. This figure is crucial for understanding the potential rental yield of properties in this area. However, the lack of specific market rent and home value data complicates a precise assessment of the yield.
Regarding stability, there is insufficient data on the percentage of renters, days on market (DOM), and average income levels. These missing figures prevent a comprehensive evaluation of the stability of the market in ZIP 12073.
Given the available data, ZIP 12073 appears to offer a moderate yield based on the FMR. Without additional information on market rents and home values, it is challenging to determine if this is a high-yield/low-stability flip-style market or a steady-cashflow zone. The current FMR suggests that landlords participating in the Section 8 program can expect consistent rental income, but the overall market dynamics remain unclear due to the absence of key metrics.
To make a more informed decision, landlords and small-portfolio investors would benefit from acquiring detailed market rent and home value data. Additionally, understanding the local economic environment, such as the percentage of renters and average income levels, would provide further insight into the stability of the market.
Data Sources: FMR data from HUD (2027).
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.