Section 8 Fair Market Rent (FMR) for ZIP 12247 - 2027

Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,260
1 Bedroom	$1,450
2 Bedrooms	$1,740
3 Bedrooms	$2,070
4 Bedrooms	$2,290
5 Bedrooms	$2,656
6 Bedrooms	$2,975
7 Bedrooms	$3,213
8 Bedrooms	$3,374

To determine if you should buy in ZIP code 12247 (Unknown, NY) for Section 8 investments, follow this decision tree based on the available data:

Step 1: Does the Fair Market Rent (FMR) of $1390 cover your debt service on a property?

No: Do not invest. The FMR does not provide sufficient income to meet the debt service requirements.
Yes: Proceed to Step 2.

Step 2: Is the market rent above, at, or below the FMR of $1390?

Above: This indicates strong demand for rental properties in the area. However, since the exact market rent figure is not provided, you cannot directly compare it against the FMR. You will need to conduct further research to confirm if the market rent consistently exceeds the FMR.
At: Market rent matches the FMR. This suggests that the area is stable for Section 8 investments, but there is no premium over the FMR which might limit profitability.
Below: Do not invest. If the market rent is below the FMR, it means the overall rental market is not supporting the FMR levels, making Section 8 investments less attractive.

Step 3: What is the percentage of renters in the area and what is the days on market (DOM)?

N/A% Renters + N/A-day DOM: Without specific figures for the percentage of renters and days on market, it's challenging to assess the demand accurately. Typically, higher percentages of renters and lower DOM values indicate stronger demand. However, given the lack of precise data, you must gather more detailed local rental market information to make an informed decision.

The decision to invest in ZIP 12247 hinges on whether the FMR can support your financial obligations and if the local rental market conditions favor Section 8 properties. Insufficient data points mean you need to do additional research to fully evaluate the investment potential.

Data Sources: FMR data from HUD (2027).

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.