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 | $1,120 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,290 | $176,317 | 0.73% | D |
| 2BR | $1,550 | $286,884 | 0.54% | F |
| 3BR | $1,850 | $263,365 | 0.7% | D |
| 4BR | $2,040 | $326,379 | 0.63% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1280 for ZIP 12210 in Albany, NY, for fiscal year 2024, landlords should set their rental prices accordingly to remain competitive while ensuring compliance with HUD guidelines. The actual market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,449, indicating a slight premium over the FMR. This suggests that there is potential for landlords to charge slightly above the FMR without deterring tenants.
The median home value in the area is $258,408, reflecting a stable housing market where property values have remained steady. Given that 75.3% of the population are renters, it's evident that the demand for rental properties is high, which bodes well for landlords looking to maximize occupancy rates.
Average daily days on market (DOM) and percentage of price-cut share are not available for ZIP 12210, but the high renter share implies that rental units are likely to be occupied quickly once they become available. The median income of $55,843 provides insight into the financial capacity of residents, suggesting that many can afford rents around the ZORI figure of $1,449, though some may seek assistance through programs like Section 8.
In conclusion, the combination of a strong rental market, high renter share, and a median income that supports the ability to pay market rents makes ZIP 12210 an attractive investment opportunity for landlords and small-portfolio investors. The gap between the FMR and market rent also offers a margin for landlords to operate profitably while still being accessible to moderate-income families. Therefore, participation in the Section 8 program is advisable for landlords seeking to tap into a reliable tenant pool with a demonstrated need for affordable housing options.
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.