Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
U.S. Census Bureau data (2024)
33.3% of residents in ZIP 12169 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to enter the market. The Fair Market Rent (FMR) for ZIP 12169 in fiscal year 2024 is set at $1260, which is notably higher than the $782 average market rent reported by the Census Bureau's American Community Survey. This discrepancy suggests an opportunity for landlords who can meet the higher FMR standards, potentially attracting tenants eligible for Section 8 subsidies.
$306,550 is the median home value in ZIP 12169, reflecting the overall property values in the area. For investors, this figure provides context for the potential investment size and resale value. The median income in ZIP 12169 is $43,936, which is lower than the national average, underscoring the need for affordable housing solutions and the relevance of Section 8 programs in this region.
While the exact days on market (DOM) and the percentage of properties that have been price-cut are not available, the gap between the FMR and the actual market rent indicates a favorable environment for landlords participating in the Section 8 program. The higher FMR supports a better income stream per unit compared to the current market rates, making it a strategic choice for investors aiming to maximize their returns while serving a critical segment of the community.
The verdict for Section 8 participation in ZIP 12169 is positive, given the alignment between the high FMR and the substantial renter share, alongside the lower median income suggesting a need for subsidized housing options.
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.