12305

ZIPSAFMR

Schenectady County, NY

ZIP Investment Score

59Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,100	$1,170	7.7%
1 BR	$1,280	$1,340	9.3%
2 BR	$1,540	$1,610	9.0%
3 BR	$1,840	$1,720	8.5%
4 BR	$2,030	$1,730	8.5%
5 BR	$2,335	Not available	8.5%
6 BR	$2,685	Not available	8.5%
7 BR	$3,087	Not available	8.5%
8 BR	$3,550	Not available	8.5%

Purchase Price Calculator

Maximum purchase price

$177,329

Cost breakdown

+Likely effective rent$1,610

HUD FMR$1,540

Market rent$1,650

Est. payment standard (105%)Used$1,610

-Principal and interest-$897

Loan amount$141,863

Down payment$35,466

Rate6.50%

Term30 years

-Operating costs-$513

Property taxes-$177

Insurance-$175

Utilities$0

HOA$0

Management-$161

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$25,918(73.1% ROI)

Projected value

$190,964

Return breakdown

Property appreciation+$13,635

Loan principal paid down+$5,083

Rental cash flow+$7,200

5-year hold

+$44,366(125.1% ROI)

Projected value

$200,631

Return breakdown

Property appreciation+$23,302

Loan principal paid down+$9,064

Rental cash flow+$12,000

10-year hold

+$95,264(268.6% ROI)

Projected value

$226,996

Return breakdown

Property appreciation+$49,667

Loan principal paid down+$21,597

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.91ratio

FMR$1,100

Market$1,210

vs market-$110

FMR is near market; voucher and private rents are aligned.

0.91

1 BR

0.93ratio

FMR$1,280

Market$1,370

vs market-$90

FMR is near market; voucher and private rents are aligned.

0.93

2 BR

0.93ratio

FMR$1,540

Market$1,650

vs market-$110

FMR is near market; voucher and private rents are aligned.

0.93

3 BR

1.07ratio

FMR$1,840

Market$1,720

vs market+$120

FMR is near market; voucher and private rents are aligned.

1.07

4 BR

1.17ratio

FMR$2,030

Market$1,730

vs market+$300

FMR is above market; underwrite to market rent.

1.17

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 12305 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 12305 (Schenectady, NY) is $1,540 a month. That is up 6.9% from $1,440 in FY 2026. Schenectady is in the Albany-Schenectady-Troy, NY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,711. Among 22 ZIP codes in Schenectady County, 12305 is tied for the 14th-highest two-bedroom rent (county range $1,540–$1,920). The median county two-bedroom FMR in New York is $1,385, so ZIP 12305 is 11% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 12305
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,030	$1,100	+6.8%	$990–$1,210
1BR	$1,200	$1,280	+6.7%	$1,152–$1,408
2BR	$1,440	$1,540	+6.9%	$1,386–$1,694
3BR	$1,730	$1,840	+6.4%	$1,656–$2,024
4BR	$1,910	$2,030	+6.3%	$1,827–$2,233

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 12305
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,100	$1,280	$1,540	$1,840	$2,030
FY 2026	$1,030	$1,200	$1,440	$1,730	$1,910
FY 2025	$910	$1,020	$1,240	$1,500	$1,650
FY 2024	$880	$980	$1,190	$1,440	$1,590
FY 2023	$810	$900	$1,090	$1,350	$1,480

Two-bedroom rent in nearby Schenectady County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 12305
12150	$1,660	+7.8%
12157	$1,540	0.0%
12301	$1,590	+3.2%
12302	$1,680	+9.1%
12303	$1,540	0.0%
12304	$1,540	0.0%
12305Current	$1,540	—
12306	$1,630	+5.8%
12307	$1,540	0.0%
12308	$1,580	+2.6%
12309	$1,920	+24.7%
12345	$1,590	+3.2%

Questions about ZIP 12305 rents

How much will Section 8 pay for a two-bedroom in ZIP 12305?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,711, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,540 to $1,882 a month; under the ZIP-level Small Area FMR of $1,540 it would be $1,386 to $1,694. 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 12305 in?

ZIP 12305 is in the Albany-Schenectady-Troy, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,711.

How much did fair market rent change in ZIP 12305 for FY 2027?

The two-bedroom FMR rose 6.9%, from $1,440 in FY 2026 to $1,540 in FY 2027. Since FY 2023 it has risen 41.3%.

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 Small Area Fair Market Rents and area FMRs. 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 rent Schenectady, NY fair market rent NY statewide rents What is SAFMR?Data sources