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 | $1,450 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,010 | $328,001 | 0.61% | D |
| 3BR | $2,390 | $514,400 | 0.46% | F |
| 4BR | $2,640 | $665,512 | 0.4% | F |
| 5BR | $3,062 | $758,946 | 0.4% | F |
U.S. Census Bureau data (2024)
Slingerlands, NY, located in ZIP code 12159, stands out within Albany County due to its unique demographic and economic characteristics. With a population of 8,163 residents, Slingerlands has a relatively low rental rate at 25.4%, indicating that the majority of the housing stock is owner-occupied. The median income in the area is $128,306, which is significantly higher than the national average, suggesting a prosperous community. The median home value in Slingerlands is $565,216, reflecting a strong real estate market.
The voucher economics in Slingerlands provide an interesting contrast to the overall housing market conditions. The Fair Market Rent (FMR) for the ZIP code in fiscal year 2024 is set at $1,540, while the Census ACS data indicates a market rent of $1,729. This means that landlords accepting Section 8 vouchers can expect to receive slightly less than the market rate, but still a substantial amount considering the local economy.
The data signature for ZIP 12159 reads as stable. The high median income and median home value suggest a steady financial environment where residents have the means to maintain their homes and contribute to a robust local economy. Additionally, the lower rental rate indicates a preference for homeownership, which typically correlates with long-term stability and investment in the community. While the gap between the FMR and market rent might be a consideration for some landlords, the overall economic indicators point towards a secure and predictable market.
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.