Section 8 Fair Market Rent (FMR) for ZIP 12123 - 2027

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

Investment Score for ZIP 12123

Monthly Rent (2BR)

$1,540

Median Price (2BR)

$246,887

1% Rule

0.62%

Annual Yield

7.49%

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	$1,130
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: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,540	$246,887	0.62%	D
3BR	$1,840	$349,007	0.53%	F
4BR	$2,030	$437,473	0.46%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,457

Median Household Income

$108,878

Housing Units

2,203

Renter Percentage

17.5%

Occupancy Rate

89.2%

Renter Occupied

344

Nassau, NY, located in ZIP code 12123, is a suburban area known for its blend of residential tranquility and proximity to urban amenities. The region offers a stable environment for real estate investments, particularly for those interested in the rental market.

The Fair Market Rent (FMR) for Nassau, NY, for the fiscal year 2024 is set at $1,190 per month for a two-bedroom apartment, indicating the government's benchmark for affordable housing in the area.
The market rent, according to the latest Census American Community Survey (ACS), stands at $1,023 per month for a similar unit, reflecting the actual rents paid by tenants in the local market.
The median home value in Nassau, NY, is $317,735, providing a solid base for property appreciation and equity growth over time.
Renters make up 17.5% of the population, suggesting a significant portion of the market is interested in leasing rather than purchasing homes.
The median household income in the area is $108,878, which supports the ability of residents to afford higher rents and potentially drive demand for better quality rental properties.
While the number of days on the market (DOM) for rentals is not available, the strong income levels and fair market conditions imply that properties are likely to be rented out efficiently.

The combination of a high median income and a substantial renter share points to a robust rental market in Nassau, NY. The discrepancy between the FMR and market rent suggests opportunities for landlords to increase their rental rates slightly above the average without pricing out potential tenants. Given the median home values, there is also potential for long-term appreciation in property values, making Nassau, NY, a favorable location for both rental income and capital gains for real estate investors.

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.