Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
The analysis of ZIP code 12128 within the Albany-Schenectady-Troy, NY MSA reveals several key points for landlords and small-portfolio investors.
The rent math is a critical consideration. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1390. However, without specific data on market rents, it's challenging to determine if this figure aligns with what tenants are willing to pay. This uncertainty can impact the feasibility of rental investments.
Regarding the affordability of acquisitions, the median home value and days on market (DOM) are crucial indicators. Unfortunately, these metrics are currently marked as 'N/A', which means we lack definitive information to assess whether property purchases in this ZIP code are financially viable. Additionally, the percentage of homes that require price cuts to sell also remains unspecified, further complicating an assessment of the local real estate market conditions.
Tenant demand is another essential factor. With the population and the percentage of renters both listed as 'N/A', it's impossible to quantify the number of potential tenants or gauge their interest in renting properties. This absence of data makes it difficult to predict occupancy rates and the overall demand for rental housing in ZIP 12128.
In summary, while the Fair Market Rent provides a benchmark at $1390, the lack of detailed market-specific data regarding median home values, days on market, price-cut shares, population size, and renter demographics leaves significant gaps in assessing the viability of investment opportunities in ZIP 12128. Landlords and small-portfolio investors should seek additional, precise data before making informed decisions about entering or expanding in this 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.