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 | $1,150 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,590 | $270,424 | 0.59% | F |
| 3BR | $1,890 | $325,038 | 0.58% | F |
| 4BR | $2,090 | $354,743 | 0.59% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12803, located in South Glens Falls, NY, within the Albany-Schenectady-Troy, NY MSA metro area, reveals several key insights for landlords and small-portfolio investors.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for ZIP 12803 in fiscal year 2024 is set at $1240. In comparison, the Census ACS reports a market rent of $1,211. This indicates that the rent math does work, as the FMR slightly exceeds the market rate, suggesting that properties priced at or below the FMR will likely attract tenants without significant financial strain.
Regarding the affordability of acquisitions, the median home value in ZIP 12803 stands at $301,111. While the average days on market (DOM) and the percentage of homes requiring a price cut are not available, the median home value suggests that purchasing properties in this area is reasonably affordable for most investors. However, without specific DOM and price-cut data, it's difficult to gauge the exact competitiveness of the local real estate market.
Tenant demand is another critical factor. With a total population of 9,712 and a renter share of 41.1%, there is a substantial number of potential tenants in the area. This means that approximately 3,990 individuals are actively seeking rental housing, which should provide a steady stream of demand for rental properties.
In summary, the rent math in ZIP 12803 works favorably, with the FMR slightly above the market rate. Acquisitions are affordable given the median home value, though more detailed market metrics would be beneficial for a complete picture. Tenant demand is strong, driven by a significant portion of the population租房。总的来说，在纽约南格伦斯瀑布的邮政编码12803地区，租金数学是有利的，公平市场租金略高于市场价格。收购是负担得起的，考虑到中位房价，尽管需要更多详细的市场指标来完成整个画面。租户需求强劲，由该地区人口中相当大的一部分组成，他们正在积极寻找出租房屋。对于房东和小型投资组合投资者来说，这个市场是值得考虑的。
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.