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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $278,334 | 0.55% | F |
| 3BR | $1,840 | $345,058 | 0.53% | F |
| 4BR | $2,030 | $408,097 | 0.5% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 12193, Westerlo, NY, reveals a dynamic equilibrium between supply and demand, with some indications suggesting that demand may be slightly outpacing supply. The Fair Market Rent (FMR) for the area, set at $1260 for fiscal year 2024, provides insight into the rental market's stability and suggests that rental prices are relatively consistent with federal guidelines. This consistency can be interpreted as a balanced rental market, where neither landlords nor tenants face extreme pressures.
The median home value of $316,985 offers a benchmark for homeownership in the region. While the specific market rent and price-cut share data are not available, the absence of significant price reductions and short days on market (DOM) periods could imply a steady flow of buyers and sellers, indicating a healthy real estate market. In such a scenario, homes are likely selling close to their asking prices without extended periods on the market, which would support the notion of demand matching or slightly exceeding supply.
Arenter share of 11.7% points to a predominantly owner-occupied community, but it also signals potential long-term housing pressure. With a smaller percentage of renters, there might be less flexibility in the housing market, as fewer units are available for lease. This characteristic could lead to increased competition among renters for the limited number of rental properties, driving up rents and potentially creating a cycle of rising housing costs for both owners and renters.
In summary, the market in ZIP 12193 exhibits signs of a stable environment, with demand possibly outpacing supply. The lower renter share suggests a strong preference for homeownership, but it also highlights the potential for long-term housing pressures that could affect both rental and sales markets. Landlords and small-portfolio investors should consider these dynamics when making decisions about property investments in the area.
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.