Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,210 |
| 1 Bedroom | $3,380 |
| 2 Bedrooms | $3,680 |
| 3 Bedrooms | $4,660 |
| 4 Bedrooms | $5,100 |
| 5 Bedrooms | $5,916 |
| 6 Bedrooms | $6,626 |
| 7 Bedrooms | $7,156 |
| 8 Bedrooms | $7,514 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 10005, located in New York City, reveals several key points. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $4130. In contrast, the market rent, measured by Zillow's ZORI index, stands at $4640. This indicates that landlords can expect to cashflow marginally when accepting Section 8 vouchers, given the discrepancy between the HUD FMR and the actual market rent.
To further understand the investment landscape, consider the median home value in ZIP 10005, which is $1,108,267. The rent-to-price ratio derived from these figures is approximately 0.4%, suggesting that rental income represents a small portion of the total property value. This ratio is indicative of a robust housing market where property values significantly outpace rental income, which can be a positive sign for long-term appreciation.
The dynamics of the local real estate market also play a role in investment decisions. With a median Days on Market (DOM) of N/A and a price-cut share of 0.1%, it is evident that the market is highly competitive and quick-moving. These factors imply that while the cashflow might be modest, the stability and potential for significant appreciation make this area an attractive investment for Section 8 landlords and small-portfolio investors.
In summary, the strongest angle for investors in ZIP 10005 is appreciation. Despite the marginal cashflow, the high median home value and low price-cut share suggest that properties in this area will likely increase in value over time, providing a solid return on investment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.