Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
U.S. Census Bureau data (2024)
83.5% of the residents in ZIP code 12085 are renters, indicating a strong demand for rental properties in the area. The Fair Market Rent (FMR) for ZIP 12085, as of fiscal year 2024, is set at $1190, providing a benchmark for rental pricing that aligns with government standards. This figure represents the maximum amount landlords can charge tenants participating in the Section 8 program, ensuring affordability for low-income families while maintaining a reasonable return on investment.
The high percentage of renters suggests that there is limited competition from homeowners, which can be advantageous for landlords looking to secure long-term tenancy. With no available data on the median home value or median income, it's important to focus on the robust rental market and the guaranteed income stream from the Section 8 program. The lack of data on days on market (DOM) and the percentage of price-cut shares indicates stability in the rental market, with little need for aggressive pricing strategies.
Investors should note that the $1190 FMR provides a clear guideline for setting rents that attract Section 8 participants without sacrificing profitability. Given the strong rental share of 83.5%, landlords can expect consistent occupancy rates and less turnover compared to areas with higher percentages of owner-occupied homes. The absence of specific market rent data means that the FMR serves as a reliable indicator of what tenants can afford, thus minimizing the risk of vacancy.
A final consideration for investors is the administrative ease and consistency of the Section 8 program. Unlike fluctuating market conditions, the FMR offers a stable income projection. For ZIP 12085, where 83.5% of residents are already renters, the Section 8 program presents an opportunity to serve a significant portion of the local population while receiving timely payments.
Verdict: ZIP 12085 is a favorable market for Section 8 investments, with a strong rental base and a clear FMR guideline of $1190.Data Sources: FMR data from HUD (2027). 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.