Location: Greene County, NY | Metro: Albany-Schenectady-Troy, NY MSA
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 12143, located in Ravena, NY, stands out within Albany County due to its unique demographic and economic characteristics. With a population of 5,664 residents, where 24.2% are renters, the area has a median income of $95,101 and a median home value of $285,396. These figures indicate a relatively affluent community with a modest rental market.
The voucher economics in ZIP 12143 are particularly noteworthy. The Fair Market Rent (FMR) for the area is set at $1,190 for the fiscal year 2024, slightly higher than the Census American Community Survey (ACS) reported market rent of $1,150. This suggests that landlords accepting Section 8 vouchers can expect a reasonable rent premium over the local market rate, making it financially viable to participate in the program.
Given the data signature, ZIP 12143 appears to be in a stable phase. The slight increase in FMR compared to the market rent indicates a steady demand for housing without significant fluctuations. Additionally, the high median income and home values suggest a robust local economy capable of supporting both homeowners and renters. For landlords and small-portfolio investors, this stability means that there is a reliable tenant pool willing to pay fair rents, including those receiving Section 8 assistance.
In summary, Ravena, NY (ZIP 12143), offers a balanced environment for real estate investment, with a median income of $95,101 and median home value of $285,396. The Section 8 voucher system, with an FMR of $1,190, provides a margin above the market rent of $1,150, ensuring a financially sound opportunity for landlords. The overall data signature points towards a stable market, conducive to long-term investments.
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.