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 | $291,582 | 0.53% | F |
| 3BR | $1,840 | $390,518 | 0.47% | F |
| 4BR | $2,030 | $489,402 | 0.41% | F |
U.S. Census Bureau data (2024)
ZIP code 12196, located in West Sand Lake, NY, is primarily a homeowner-dominated area rather than a renter-heavy zone. The population of 3,880 residents indicates that only 15.4% are renters, which suggests a limited pool of potential Section 8 tenants. With a median household income of $110,889, the average renter would find typical market rents of $1,000 to be relatively affordable, consuming approximately 3.6% of their annual income. This is a significantly lower percentage compared to areas with higher concentrations of low-income renters.
The Fair Market Rent (FMR) for ZIP 12196 is set at $1,190 for FY 2024, which is slightly above the $1,000 market rent currently observed. However, the higher FMR does not necessarily indicate a larger demand for Section 8 vouchers, given the overall income level of the area. Landlords in this ZIP code should expect tenants who are likely employed and have stable incomes, possibly qualifying for Section 8 vouchers due to personal circumstances such as recent job loss, health issues, or other financial hardships, but not primarily because of systemic low-income conditions.
While there is a presence of renters, the number of individuals relying on housing vouchers is expected to be modest. The local economy supports a higher standard of living, and most residents can afford market-rate rents without assistance. For landlords and small-portfolio investors, this ZIP code offers a relatively low-risk environment with tenants who are generally capable of meeting their rental obligations independently.
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.