Location: Albany-Schenectady-Troy, NY | Metro: Albany-Schenectady-Troy, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
The ZIP code 12301, located in the Albany-Schenectady-Troy metropolitan area of New York, presents a unique opportunity for real estate investors due to its specific characteristics. While detailed demographic data such as resident count, rental percentage, median income, and median home value are not available for this ZIP code, it stands out for its Fair Market Rent (FMR) rates which are crucial for understanding the economics of Section 8 housing vouchers.
The FMR rate for ZIP 12301 is set at $1280 for fiscal year 2024. This figure is important because it represents the maximum amount that a landlord can charge for rent under the Section 8 program. Despite the lack of specific market rent data, the FMR provides a benchmark for rental pricing in subsidized housing units. Landlords should be aware that this rate may differ from the local market rent, potentially offering an advantage in securing tenants who qualify for assistance.
When considering the stability of ZIP 12301, the data signature suggests a transitional environment. The absence of detailed economic and demographic figures indicates that the area might be undergoing changes, whether in population dynamics, housing market trends, or other factors that could influence investment decisions. For small-portfolio investors and landlords, this means staying vigilant on local developments and being prepared to adapt to any shifts in the housing market.
In summary, ZIP 12301 offers a niche for Section 8 properties with a defined FMR rate of $1280 for the upcoming fiscal year. Investors should focus on leveraging this subsidy rate while monitoring the evolving landscape of the area for future opportunities and challenges.
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.