Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $274,748 | 0.56% | F |
| 3BR | $1,840 | $367,280 | 0.5% | F |
| 4BR | $2,030 | $495,973 | 0.41% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 12140, which encompasses Poestenkill, NY, stands at $138,393. Despite this relatively high median income, the market rate for rental properties is listed as N/A, indicating a lack of available data on typical rental costs in the area. This absence makes it difficult to accurately assess whether a household can afford the market rate.
However, we do have information on the Fair Market Rent (FMR) standard for the upcoming fiscal year 2024, which is set at $1190 for this ZIP code. This figure represents the voucher payment standard under the Section 8 program. Given the high median income, it is likely that many households could afford higher rents than the FMR, but without the actual market rate, this remains speculative.
The ZIP code has a small rental market, with only 3.2% of the 1,512 population being renters. This low percentage suggests limited competition among landlords for tenants who pay with cash versus those who use vouchers. The scarcity of rental units means that landlords can be selective about their tenant mix, choosing between cash-paying tenants and those with Section 8 vouchers.
The affordability gap, represented by the difference between the median income and the FMR, implies that landlords might find a niche in serving both ends of the spectrum. For landlords, the strategy should focus on understanding the local demand and balancing the benefits of guaranteed payments through the Section 8 program against the potential for higher rents from cash-paying tenants.
Takeaway: Landlords in ZIP 12140 should consider the limited rental market and the high median income when deciding between voucher and cash-pay strategies. While there is a small pool of potential tenants, the opportunity to serve both voucher holders and higher-income renters exists. Understanding the local dynamics and the preferences of potential tenants will be crucial in making informed decisions about rental pricing and tenant selection.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.