| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $3,270 |
| 1 Bedroom | $3,430 |
| 2 Bedrooms | $3,760 |
| 3 Bedrooms | $4,710 |
| 4 Bedrooms | $5,120 |
Location: New York, NY
Metro Area: New York, NY HUD Metro FMR Area
Explore Section 8 payment standards in neighboring areas:
Cities Covered: This ZIP code covers New York.
FMR Rates (FY 2026):
Studio: $3,270 | 1BR: $3,430 | 2BR: $3,760 | 3BR: $4,710 | 4BR: $5,120
Median Property Prices & 1% Rule Analysis:
Market Overview: The 10010 ZIP code sits in a rapidly gentrifying area, with a mix of young professionals (60%), families (25%), and service-industry workers (15%). Vacancy rates remain tight at 2-3%, and rents have risen 8-12% year-over-year, driven by high demand for luxury apartments near top employers. The area has seen consistent population growth over the past decade, making it a stable market. However, property values have lagged behind neighboring areas, creating a cash-flow opportunity for investors willing to manage tenant turnover.
Investment Takeaway: Purchase prices in the $500-700k range allow gross rents to approach the 1% rule for well-selected properties. Cash-flow investors can target 9-12% gross yield on 2BR units in the $400-600k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($4,200+ for 2BR). Long-term investors should prioritize properties near major employers, transit hubs, and established neighborhoods with stable occupancy. Budget 15-18% of purchase price annually for maintenance, property taxes, and vacancy reserves to ensure positive cash flow.
Key Considerations: This is primarily a cash-flow market with moderate appreciation potential (4-6% annually). Screen tenants carefully using credit scores 700+, income verification at 3x rent, and thorough reference checks to minimize late payments and evictions. Budget 15% of purchase price for annual maintenance, 10% for vacancy reserves, and expect property taxes of 2.5-3.0% of assessed value. Late or unpaid rent is the dominant risk in this market, so tenant quality trumps cosmetic upgrades.