The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Albany, NY 12202's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 12202 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $792 to a high of $968, with an average of $880.
One-bedroom: One-bedroom rental prices vary, with a minimum of $882, a maximum of $1,078, and an average of $980.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,071, peaking at a maximum of $1,309, and averaging at $1,190.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,296, a maximum of $1,584, and an average of $1,440.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,431 to a maximum of $1,749, with an average of $1,590.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Albany, NY 12202 Low Rent (90%) $792 $882 $1,071 $1,296 $1,431
Average Rent $880 $980 $1,190 $1,440 $1,590
High Rent(110%) $968 $1,078 $1,309 $1,584 $1,749
2023 Albany, NY 12202 Low Rent (90%) $747 $828 $1,008 $1,224 $1,350
Average Rent $830 $920 $1,120 $1,360 $1,500
High Rent (110%) $913 $1,012 $1,232 $1,496 $1,650
2022 Albany, NY 12202 Low Rent (90%) $693 $765 $936 $1,161 $1,269
Average Rent $770 $850 $1,040 $1,290 $1,410
High Rent(110%) $847 $935 $1,144 $1,419 $1,551
2021 Albany, NY 12202 Low Rent (90%) $630 $702 $864 $1,071 $1,170
Average Rent $700 $780 $960 $1,190 $1,300
High Rent (110%) $770 $858 $1,056 $1,309 $1,430
2020 Albany, NY 12202 Low Rent (90%) $630 $738 $909 $1,134 $1,224
Average Rent $700 $820 $1,010 $1,260 $1,360
High Rent(110%) $770 $902 $1,111 $1,386 $1,496
2019 Albany, NY 12202 Low Rent (90%) $567 $684 $837 $1,053 $1,143
Average Rent $630 $760 $930 $1,170 $1,270
High Rent (110%) $693 $836 $1,023 $1,287 $1,397


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