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 | $1,100 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $267,384 | 0.58% | F |
| 3BR | $1,840 | $327,948 | 0.56% | F |
| 4BR | $2,030 | $417,219 | 0.49% | F |
U.S. Census Bureau data (2024)
To decide whether you should invest in ZIP 12871 (Schuylerville, NY) for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1220 cover the debt service on a $315,204 property?
Yes. The FMR of $1220 can potentially cover the debt service if the interest rate and loan terms allow it. For example, if the annual debt service (including principal and interest) is less than $14,640 ($1220 x 12 months), then the FMR would be sufficient. However, if the debt service exceeds this amount, then the answer is no.
No. If the FMR of $1220 does not cover the annual debt service, investing in this area is not advisable for Section 8 properties. For instance, if the annual debt service is higher than $14,640, the rent will not be enough to sustain the investment.
It Depends. If the annual debt service is close to $14,640, you must consider other income sources such as parking fees, laundry facilities, or any additional amenities that could increase your revenue. Also, consider the vacancy rate and the likelihood of maintaining a full occupancy.
2) Is the market rent of $1,098 above, at, or below the FMR?
Above. Since the market rent is lower than the FMR, you can charge the FMR without worrying about overpricing. This means you can potentially attract tenants who qualify for Section 8 vouchers.
At. If the market rent were equal to the FMR, it would indicate that the FMR is set at a competitive level. However, in this case, the market rent is below the FMR, which is favorable for Section 8 landlords.
Below. The market rent is indeed below the FMR, which is beneficial for Section 8 landlords. It suggests that the FMR is set high enough to cover costs and provide a margin over market rates.
3) Are 24.4% renters + N/A-day days on market (DOM) enough demand?
Yes. With 24.4% of residents being renters, there is a reasonable demand for rental housing. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. If you can secure a steady flow of Section 8 tenants, the investment could be viable.
No. If the DOM data were available and indicated a slow rental process, the investment might not be ideal due to potential vacancies and financial strain.
It Depends. Without specific DOM data, the viability of the investment hinges on your ability to manage the property effectively and attract Section 8 tenants. If you can maintain a high occupancy rate, the investment can be profitable.
In conclusion, if the FMR covers your debt service, the market rent is below the FMR, and you can manage the property well, ZIP 12871 can be a suitable investment for Section 8 properties. The key is to ensure that the FMR is sufficient to meet your financial obligations and that you can maintain consistent tenant occupancy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.