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 | $1,260 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,740 | $308,762 | 0.56% | F |
| 3BR | $2,070 | $409,542 | 0.51% | F |
| 4BR | $2,290 | $512,041 | 0.45% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 12170 (Stillwater, NY) on the axes of yield and stability reveals a unique investment scenario for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,550, which is significantly higher than the market rent of $1,240. This discrepancy indicates a potential for higher rental yields when properties are leased at the FMR rate.
However, the median home value in the area is $396,076, suggesting that the cost basis for acquiring investment properties is relatively high. Despite this, the potential rental yield is still favorable, as the FMR exceeds the market rent by $310 per month. This represents an opportunity for landlords who can secure properties at or below the median value to achieve above-average returns relative to their investment.
Moving to stability, the ZIP code has a 18.9% renter-occupied rate, indicating a lower demand for rentals compared to owner-occupied housing. This figure points towards a less stable rental market, as a smaller percentage of residents renting could lead to higher vacancy rates or greater difficulty in finding tenants. Additionally, the average household income is $102,857, which supports the ability of residents to pay higher rents but does not directly indicate stability in the rental market.
Given these factors, ZIP 12170 appears to be a high-yield/low-stability market. The significant difference between the FMR and market rent suggests that landlords can potentially achieve higher yields if they manage to lease their properties at the FMR rate. However, the low renter-occupied rate implies that the market might be less stable, with potential challenges in maintaining consistent occupancy levels. This classification aligns with a flip-style market where quick profits can be made but long-term cash flow might be less reliable.
To summarize, the primary drivers of this classification are the $310 monthly differential between FMR and market rent, and the 18.9% renter-occupied rate, which both point to a high-yield environment with inherent risks to stability.
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.