Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
The ZIP code 12133, located in the Albany-Schenectady-Troy, NY MSA metro area, can serve as a diversifier within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 12133 in fiscal year 2024 is set at $1320, which aligns well with the rental assistance program's guidelines. This makes the area attractive for landlords and small-portfolio investors seeking to balance their investments across different markets.
The median home value and median income data for ZIP 12133 are currently unavailable, but the presence of several listed homes indicates a diverse housing market. Properties range from affordable options, such as a $89,000 two-bedroom house, to more expensive choices, like a $425,000 five-bedroom home. This diversity suggests that there is a mix of economic conditions within the area, providing opportunities for both cash flow and appreciation.
ZIP 12133 does not stand out as a strong cash-flow anchor due to the limited data on market rents and median home values. However, the availability of homes at various price points means that landlords can find properties that offer positive cash flow when rented at the FMR rate of $1320 per month. Additionally, the area does not show significant signs of being an appreciation play, as there is no data on price-cut shares or days on market (DOM).
Therefore, ZIP 12133 is best suited as a diversifier within a Section 8 portfolio. It offers a mix of property types and price ranges, allowing investors to spread risk and potentially benefit from different economic factors at play within the area. While the exact percentages for renter share and median income are not available, the presence of multiple listings and varying property values indicates a diverse market that can complement other parts of a larger investment portfolio.
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.