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 | $1,610 |
| 1 Bedroom | $1,860 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,660 | $451,220 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 12151 stands out in its county due to several key factors. With a population of just 967 residents, it has a low density of renters at 13.7%, indicating that homeownership is prevalent. The median income of $98,309 suggests a relatively affluent community, while the median home value of $418,726 reflects high property values, which are typical for an area where homeownership is the norm.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 12151 is set at $1,750 for fiscal year 2024. This is notably higher than the market rent average of $1,615, as reported by the Census Bureau's American Community Survey (ACS). Landlords accepting Section 8 vouchers can expect slightly above-market rents, which helps offset the administrative burden and potential risks associated with the program.
The data signature for ZIP 12151 reads as stable. The high median income and home values indicate a strong local economy with little likelihood of sudden shifts. The modest rental percentage also suggests that any changes in housing dynamics would likely be gradual rather than abrupt. For small-portfolio investors and landlords, this stability means lower risk and predictable returns when considering properties in this ZIP code.
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.