ZIP 12188 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 12188 in the Albany-Schenectady-Troy, NY MSA FMR area.

$1,190Efficiency
$1,3701 bedroom
$1,6502 bedrooms
$1,9703 bedrooms
$2,1704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,190$1,071$1,309$1,238
1 bedroom$1,370$1,233$1,507$1,425
2 bedrooms$1,650$1,485$1,815$1,711
3 bedrooms$1,970$1,773$2,167$2,039
4 bedrooms$2,170$1,953$2,387$2,249

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 12188

$84,037average adjusted gross income per tax return (2022)
$59,878average salaries and wages per return
5,760tax returns filed
24%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00020.3%
$25,000 to $50,00022.6%
$50,000 to $75,00018.6%
$75,000 to $100,00011.1%
$100,000 to $200,00021.5%
$200,000 or more5.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 8.7% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 12188?

HUD's FY2027 Small Area FMRs for ZIP 12188 (Albany-Schenectady-Troy, NY MSA) are $1,190 efficiency, $1,370 one bedroom, $1,650 two bedrooms, $1,970 three and $2,170 four bedrooms.

What payment standard can a housing authority set in ZIP 12188?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,485 to $1,815.

How affordable is rent in ZIP 12188?

Tax returns filed from ZIP 12188 reported an average adjusted gross income of $84,037 (2022). A two-bedroom unit at the Small Area FMR costs $19,800 a year, or 24% of that income.