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 | $1,100 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $239,869 | 0.64% | D |
| 3BR | $1,840 | $278,796 | 0.66% | D |
| 4BR | $2,030 | $285,669 | 0.71% | D |
| 5BR | $2,355 | $271,202 | 0.87% | C |
U.S. Census Bureau data (2024)
The rent math in ZIP 12182, Troy, NY, within the Albany-Schenectady-Troy, NY MSA metro area, does not favor landlords. The Fair Market Rent (FMR) set at $1190 for the fiscal year 2024 is higher than the actual market rent reported by the Census ACS, which stands at $994. This discrepancy means that landlords may struggle to charge the FMR rate without facing vacancy issues.
Acquisition in this area is relatively affordable, with a median home value of $256,192. However, the lack of data on days on market (DOM) and the percentage of homes that were sold at a price cut indicates that the market dynamics for property purchases are unclear. Landlords should proceed with caution and seek additional local insights before making investment decisions.
Tenant demand in ZIP 12182 is substantial, with a total population of 14,867 and a significant 48.4% of residents being renters. This high proportion of renters suggests a steady pool of potential tenants, which can be beneficial for maintaining occupancy rates.
In summary, while tenant demand is strong, the rent math does not currently work in favor of landlords due to the gap between FMR and market rent. Acquisition costs are reasonable, but the absence of detailed market performance metrics makes it difficult to assess the overall risk and profitability. For landlords and small-portfolio investors, this area offers opportunities but also challenges, particularly in pricing rental units competitively. A thorough understanding of local rental trends and careful management of rental rates will be critical to success in ZIP 12182.
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.