Section 8 Fair Market Rent (FMR) for ZIP 10021 - 2026

Market Analysis for ZIP 10021

Cities Covered: This ZIP code covers New York.

FMR Rates (FY 2026):
Studio: $3,800 | 1BR: $3,990 | 2BR: $4,370 | 3BR: $5,470 | 4BR: $5,950

Median Property Prices & 1% Rule Analysis:

• 2BR Properties: Median price ~$420,000
  1% Rule: $4,370 ÷ $420,000 = 1.02% 👍 Meets 1% Rule
• 3BR Properties: Median price ~$520,000
  1% Rule: $5,470 ÷ $520,000 = 0.93% 👎 Below 1% Rule

Market Overview: The 10021 ZIP code is a mix of high-end rentals and gentrifying neighborhoods, driven by professionals (40%), families (30%), and students (20%). Vacancy rates remain tight at 2-3%, with rents rising 8-10% year-over-year. Key market drivers include the nearby arts district, tourism growth, and limited new construction.

Investment Takeaway: Purchase prices in the $350-550k range offer gross yields of 7-9% on well-selected properties. Target 2BR units in the $300-400k segment for 8-10% gross yield; 3BR properties in the $450-650k range can achieve 6-8% if rents exceed $3,000/month.

Key Considerations: This is a cash-flow market with moderate appreciation potential (4-6% annually). Screen tenants carefully using credit scores 720+, income verification at 4x rent, and thorough reference checks. Budget 10% of purchase price for annual maintenance, 5-7% for vacancy reserves, and expect property taxes of 2.8-3.5% of assessed value.