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 | $1,380 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,280 | $395,980 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 12153 represents a neighborhood characterized by a small population of 669 residents, with only 1.9% renting their homes. This indicates a predominantly owner-occupied area where the typical household earns a median income of $89,861. The median home value in this ZIP code is $345,014, reflecting a relatively affluent community.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP 12153 is set at $1320 for fiscal year 2024. However, there is no available data for market rent, which could suggest either a lack of rental activity or an insufficient sample size to provide reliable estimates. Given the low percentage of renters, it's likely that the rental market here is limited.
Considering these factors, ZIP 12153 may not be ideal for a hands-off voucher operator due to the scarcity of rental units and the potential difficulty in finding tenants who qualify for Section 8 assistance given the high median income. Conversely, for a hands-on value-add buyer looking to renovate properties and increase their appeal to a broader range of renters, this ZIP code presents an opportunity to invest in a desirable, high-value area. Such an investor would need to focus on identifying underutilized or undervalued properties that could benefit from improvements and potentially attract higher-income renters or those willing to pay above the FMR.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.