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 | $1,370 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,570 | $234,509 | 0.67% | D |
| 2BR | $1,890 | $267,630 | 0.71% | D |
| 3BR | $2,250 | $339,296 | 0.66% | D |
| 4BR | $2,480 | $398,601 | 0.62% | D |
| 5BR | $2,877 | $476,176 | 0.6% | D |
U.S. Census Bureau data (2024)
1570 FMR (Fair Market Rent) for ZIP 12203 in Albany, NY, sets the benchmark for rental assistance in the area. However, the market rent at 1754 ZORI (Zillow Observed Rental Index) suggests that landlords can charge slightly above the FMR without losing tenants. The median home value stands at 328584, indicating a moderate housing market where property values are stable but not excessively high. With a renter share of 50.5%, it's clear that nearly half of the residents in Albany prefer renting over owning, making rental properties a solid investment. The median income of 83147 provides insight into the financial capabilities of potential tenants, suggesting that those earning around this amount would likely qualify for Section 8 assistance. While the day DOM (Days on Market) is not available, the low price-cut share of 0.1% indicates that homes in Albany sell quickly at or near their asking price, which is positive for both landlords and investors looking to enter the market. Given these factors, landlords and small-portfolio investors should consider the strong rental demand and moderate property values when evaluating the viability of Section 8 properties in Albany.
The data paints a picture of a balanced real estate market in Albany, NY, where rental properties can be profitable while also providing affordable housing options. The difference between the FMR and market rent shows that there is room for landlords to operate within the guidelines while still achieving competitive rents. Additionally, the median home value and median income suggest that the local economy supports both homeownership and rental living, with a significant portion of the population relying on rentals. This context makes Section 8 properties particularly attractive, as they offer a reliable stream of rental income through government subsidies, ensuring occupancy even during economic downturns. The quick sale times and minimal need for price reductions further support the idea that properties in this area hold their value well, reducing the risk of depreciation for long-term investments.
Based on the analysis of the ZIP 12203 data, Section 8 properties are a viable investment option in Albany, NY, offering stability and profitability in a balanced real estate market.
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.