What is the Fair Market Rent for a 2-bedroom in Albany-Schenectady-Troy, NY MSA?

The HUD Fair Market Rent for a 2-bedroom unit in Albany-Schenectady-Troy, NY MSA is $1,702 per month for fiscal year 2026. The studio FMR is $1,217, 1-bedroom is $1,417, 3-bedroom is $2,041, and 4-bedroom is $2,253.

What income do you need to afford the FMR in Albany-Schenectady-Troy, NY MSA?

Using the standard 30%-of-income affordability rule, a household would need to earn about $68,080 per year ($5,673 per month) to afford the FY2026 2-bedroom Fair Market Rent of $1,702 in Albany-Schenectady-Troy, NY MSA.

FY2026 Fair Market Rents — Albany-Schenectady-Troy, NY MSA

The HUD-published Fair Market Rents for FY2026 in this area are:

Studio

$1,217

1BR

$1,417

2BR

$1,702

3BR

$2,041

4BR

$2,253

Hours/week at min wage

80 hrs

to afford the 2BR FMR @ $16.50/hr (NY)

YoY change (2BR)

+14.5%

+$215 vs FY2025 · 5-yr +52.4%

Voucher payment standard

$1,532–$1,872

PHAs set HCV payment at 90–110% of the 2BR FMR

Albany-Schenectady-Troy, NY MSA

Non-Metropolitan area · NY · View full history · Income limits · LIHTC rents

FY2026 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$1,217	$14,604
1-Bedroom	$1,417	$17,004
2-Bedroom	$1,702	$20,424
3-Bedroom	$2,041	$24,492
4-Bedroom	$2,253	$27,036

Recent 2-Bedroom FMR Trend

FY2020 $1,054 → FY2026 $1,702

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2026	$1,217	$1,417	$1,702	$2,041	$2,253
FY2025	$1,074	$1,230	$1,487	$1,792	$1,971
FY2024	$1,011	$1,131	$1,374	$1,661	$1,830
FY2023	$968	$1,079	$1,313	$1,598	$1,764
FY2022	$890	$991	$1,207	$1,492	$1,637
FY2021	$809	$912	$1,117	$1,389	$1,515
FY2020	$747	$855	$1,054	$1,313	$1,428

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $123,100

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$25,900	$29,600	$33,300	$36,950	$39,950	$44,360
50% AMI (Very Low)	$43,100	$49,250	$55,400	$61,550	$66,500	$71,400
80% AMI (Low)	$68,950	$78,800	$88,650	$98,500	$106,400	$114,300

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$20,424/yr

FMR as % of Area Median Income

16.6% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$68,080/yr

$5,673/mo gross income

FY2026 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band	Studio	1BR	2BR	3BR	4BR
50% AMI Maximum	$1,077	$1,231	$1,384	$1,661	$1,784
60% AMI Maximum	$1,292	$1,477	$1,661	$1,994	$2,141

FY2026 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type	Studio	1BR	2BR	3BR	4BR
High HOME Rent	$1,217	$1,417	$1,702	$2,000	$2,000
Low HOME Rent	$1,077	$1,231	$1,385	$1,538	$1,662

Compare Albany-Schenectady-Troy, NY MSA With Other NY Metros

vs. Albany-Schenectady-Troy, NY MSA vs. Binghamton, NY MSA vs. Buffalo-Cheektowaga-Niagara Falls, NY MSA vs. Elmira, NY MSA vs. Glens Falls, NY MSA