Section 8 Fair Market Rent (FMR) for ZIP 10013 - 2027

Location: New York, NY | Metro: New York, NY HUD Metro FMR Area

Investment Score for ZIP 10013

Monthly Rent (2BR)

$4,460

Median Price (2BR)

$3,297,636

1% Rule

0.14%

Annual Yield

1.62%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$3,890
1 Bedroom	$4,100
2 Bedrooms	$4,460
3 Bedrooms	$5,640
4 Bedrooms	$6,190
5 Bedrooms	$7,180
6 Bedrooms	$8,042
7 Bedrooms	$8,685
8 Bedrooms	$9,119

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$4,100	$1,685,143	0.24%	F
2BR	$4,460	$3,297,636	0.14%	F
3BR	$5,640	$5,483,257	0.1%	F
4BR	$6,190	$8,595,619	0.07%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

27,219

Median Household Income

$161,154

Housing Units

15,787

Renter Percentage

69.9%

Occupancy Rate

77.5%

Renter Occupied

8,548

The ZIP code 10013, located in the heart of Manhattan, New York, is a prime location for real estate investments, particularly for those interested in the Section 8 housing market. This area is known for its high-end apartments and luxurious condominiums, making it an attractive spot for both renters and owners alike.

The Fair Market Rent (FMR) for ZIP 10013 in fiscal year 2024 is set at $3710. This figure represents the maximum amount that a Section 8 voucher holder can pay towards their rent, ensuring affordability for low-income residents.
The market rent for the area, measured by the Zillow Observed Rental Index (ZORI), stands at $6,295. This indicates that the average rent in the area far exceeds the FMR, providing a significant margin for landlords who accept Section 8 vouchers.
The median home value in ZIP 10013 is $3,593,983, reflecting the high cost of living and property values in this part of Manhattan.
Renters make up 69.9% of the population in this ZIP code, suggesting a strong demand for rental properties and the potential for steady cash flow for landlords.
The days on market (DOM) for properties in this area is 121 days, which is relatively high for such a desirable location. This could indicate challenges in finding suitable tenants quickly, but also highlights the competitive nature of the market.
The median household income in ZIP 10013 is $161,154, which is significantly higher than the national average. This affords landlords the flexibility to adjust rents based on market conditions while still maintaining affordability for voucher holders.

Investors in ZIP 10013 should be prepared for a robust rental market where the demand for affordable housing coexists with luxury property values. The disparity between the FMR and the actual market rent presents an opportunity for landlords to secure a stable tenant base while earning above the subsidized rates. However, the longer DOM suggests that landlords might need to be patient in finding the right tenants, especially those who qualify for Section 8 vouchers. Given the high median income, there's a larger pool of potential tenants who could contribute to higher rent payments, thus increasing profitability for landlords who manage their properties effectively.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.