| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $2,170 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,510 |
| 3 Bedrooms | $3,120 |
| 4 Bedrooms | $3,370 |
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: $2,170 | 1BR: $2,260 | 2BR: $2,510 | 3BR: $3,120 | 4BR: $3,370
Median Property Prices & 1% Rule Analysis:
Market Overview: The 10032 ZIP code is a high-end market in Manhattan's Midtown area, with a mix of young professionals (40%), long-time residents (30%), and service-industry workers (30%). Vacancy rates remain tight at 2-3%, driven by the area's proximity to major employment hubs, public transportation, and upscale amenities. Rents have risen 6-8% year-over-year, fueled by strong job growth in finance, tech, and healthcare sectors. However, property values have increased faster than rents, making it a challenging market for investors seeking high cash flow. To succeed, focus on properties with high-quality finishes, excellent natural light, and modern amenities.
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 7-9% gross yield on 2BR units in the $420-550k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($3,000+ for 2BR). Long-term investors should prioritize properties near major employers, transit hubs, and established neighborhoods with stable occupancy. Budget 12% 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 (2-4% annually). Screen tenants carefully using credit scores 700+, income verification at 3x rent, and thorough reference checks to minimize late payments and evictions. Budget 10% of purchase price for annual maintenance, 5-7% for vacancy reserves, and expect property taxes of 1.8-2.2% of assessed value. Late or unpaid rent is the dominant risk in this market, so tenant quality trumps cosmetic upgrades.