Location: Delaware County, NY | Metro: Albany-Schenectady-Troy, NY MSA
| 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 |
U.S. Census Bureau data (2024)
ZIP code 12434 is situated within the Delaware County, NY metro area. The Fair Market Rent (FMR) for this ZIP is set at $1190 for fiscal year 2024. This figure represents the maximum amount that landlords can charge tenants participating in the Section 8 program. In contrast, the market rent for ZIP 12434 is reported at $744, which is significantly lower than the FMR. This indicates that landlords who accept Section 8 tenants in this ZIP could potentially earn a higher rent compared to the average market rate.
The renter share in ZIP 12434 stands at 21.7%, which is notable but not necessarily indicative of a high concentration of rental properties relative to the county average without additional comparative data. However, the absence of a specific home value figure for this ZIP suggests it may have a unique property structure, possibly with fewer single-family homes and more rental units.
Given the disparity between the FMR and the market rent, ZIP 12434 appears to be a value pocket within the Delaware County, NY metro. Landlords here can benefit from the higher allowable rent through the Section 8 program while the actual market rent remains relatively low. This scenario often signals an attractive opportunity for Section 8 participation, especially when combined with a moderate renter share percentage.
To further assess if 12434 is indeed a sweet spot for Section 8, it would be beneficial to compare these figures against other ZIP codes within the same metro area. Specifically, identifying ZIPs with similar or higher renter shares but lower market rents could confirm its status as a valuable market segment for landlords interested in the Section 8 program.
Data Sources: FMR data from HUD (2027). 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.