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 |
The HUD Fair Market Rent (FMR) for ZIP 10043 is set at $3450 for the fiscal year 2024. However, the median market rent for the area is currently unavailable. Given the high cost of living in New York City, it is likely that market rents exceed the HUD FMR, meaning voucher tenants would typically cashflow marginally or only with premium units.
The median home value in ZIP 10043 is also not available. Without specific figures, deriving an accurate rent-to-price ratio is challenging. However, considering the general real estate trends in New York City, the ratio is expected to be relatively low, indicating that owning a home is generally more expensive than renting.
Regarding the rental versus buying dynamics, the median days on market (DOM) and the percentage of price cuts are not available for ZIP 10043. These metrics would provide insight into the rental market's competitiveness and the speed at which properties are leased.
The strongest investor angle in ZIP 10043 is likely to be stability, given the consistent demand for rental properties in New York City and the high cost of ownership.
Data Sources: FMR data from HUD (2027).
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.