Section 8 Fair Market Rent (FMR) for ZIP 12124 - 2027

Location: Greene County, NY | Metro: Greene County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,130
1 Bedroom	$1,170
2 Bedrooms	$1,350
3 Bedrooms	$1,760
4 Bedrooms	$2,100
5 Bedrooms	$2,436
6 Bedrooms	$2,728
7 Bedrooms	$2,946
8 Bedrooms	$3,093

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

298

Median Household Income

$85,461

Housing Units

172

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 12124, located in the heart of Albany, New York, offers a unique blend of urban convenience and suburban tranquility. This area is characterized by its mix of residential neighborhoods and access to city amenities, making it attractive for both homeowners and potential renters.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,490, providing a benchmark for rental pricing.
Market rent data is currently unavailable, indicating a need for further research to understand the actual rental rates in the area.
The median home value in ZIP 12124 stands at $353,297, reflecting the overall cost of homeownership and property values.
Renters make up only 0.0% of the population, suggesting that this area is predominantly composed of owner-occupied homes rather than rentals.
The Days on Market (DOM) data is also not available, which could be indicative of a strong seller's market where properties sell quickly.
The median household income in the area is $85,461, demonstrating a relatively affluent demographic that could support higher property values and potentially higher rental rates if the market were to shift towards renting.

Investors looking to enter the ZIP 12124 market should consider the high median home value and the lack of rental presence. The absence of market rent and DOM data suggests that there might be limited opportunities for traditional rental investments, but the affluent resident base indicates potential for luxury rentals or flipping properties. The FMR serves as a guideline for setting rental prices, though actual market conditions may vary. For those interested in long-term investment, focusing on homeownership opportunities or upscale rental properties could prove beneficial.

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.