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Albany County/Albany/12232

12232

ZIPFMR
Albany County, NY
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,238$1,200
1 BR$1,425$1,440
2 BR$1,711$1,850
3 BR$2,039$2,230
4 BR$2,249$2,390
5 BR$2,586Not available
6 BR$2,974Not available
7 BR$3,420Not available
8 BR$3,934Not available

Purchase Price Calculator

Maximum purchase price
$212,993

Cost breakdown

+Likely effective rent$1,850
HUD FMR$1,711
Market rent$1,930
Est. payment standard (108%)Used$1,850
-Principal and interest-$1,077
Loan amount$170,394
Down payment$42,599
Rate6.50%
Term30 years
-Operating costs-$573
Property taxes-$213
Insurance-$175
Utilities$0
HOA$0
Management-$185
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,682(69.7% ROI)
Projected value
$229,370
Return breakdown
Property appreciation+$16,377
Loan principal paid down+$6,105
Rental cash flow+$7,200
5-year hold
+$50,876(119.4% ROI)
Projected value
$240,982
Return breakdown
Property appreciation+$27,989
Loan principal paid down+$10,887
Rental cash flow+$12,000
10-year hold
+$109,597(257.3% ROI)
Projected value
$272,649
Return breakdown
Property appreciation+$59,656
Loan principal paid down+$25,941
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.03
1 BR
0.98
2 BR
0.89
3 BR
0.88
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 12232 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 12232 (Albany, NY) is $1,711 a month. That is up 0.5% from $1,702 in FY 2026. Albany is in the Albany-Schenectady-Troy, NY MSA. The median county two-bedroom FMR in New York is $1,385, so ZIP 12232 is 24% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 12232
BedroomsFY 2027Change90–110% range
Studio$1,238+1.7%$1,114–$1,362
1BR$1,425+0.6%$1,283–$1,568
2BR$1,711+0.5%$1,540–$1,882
3BR$2,039−0.1%$1,835–$2,243
4BR$2,249−0.2%$2,024–$2,474

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 12232
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,238$1,425$1,711$2,039$2,249
FY 2026$1,217$1,417$1,702$2,041$2,253
FY 2025$1,074$1,230$1,487$1,792$1,971
FY 2024$1,011$1,131$1,374$1,661$1,830
FY 2023$968$1,079$1,313$1,598$1,764

Questions about ZIP 12232 rents

How much will Section 8 pay for a two-bedroom in ZIP 12232?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,711, that basic range is $1,540 to $1,882 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 12232 in?

ZIP 12232 is in the Albany-Schenectady-Troy, NY MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 12232 for FY 2027?

The two-bedroom FMR rose 0.5%, from $1,702 in FY 2026 to $1,711 in FY 2027. Since FY 2023 it has risen 30.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Fair Market Rents. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentAlbany, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources