Section 8 Fair Market Rent (FMR) for ZIP 10044 - 2027

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

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

11,520

Median Household Income

$103,347

Housing Units

5,978

Renter Percentage

81.1%

Occupancy Rate

86.6%

Renter Occupied

4,199

The ZIP code 10044, located in Manhattan, New York, is a prime real estate market characterized by high rents and a significant number of renters. This densely populated urban area offers a variety of housing options and attracts residents and investors alike due to its central location and access to numerous amenities.

Fair Market Rent (FMR) for ZIP 10044 in fiscal year 2024 is set at $4,130. This figure represents the average rental cost for a two-bedroom apartment and is used by HUD to determine eligibility for assistance programs.
The market rent, as measured by Zillow's ZORI, stands at $4,347. This indicates that the actual rents charged in the area are slightly above the FMR, suggesting strong demand and a robust rental market.
The median home value in ZIP 10044 is $907,997. This high median value reflects the premium placed on homeownership in this part of Manhattan, where property values are among the highest in the country.
Renters make up 81.1% of the housing stock in ZIP 10044. The high percentage of renters underscores the importance of the rental market in this area and suggests that rental properties will continue to be in high demand.
The median income for residents is $103,347. This relatively high income level supports the ability of tenants to pay higher rents, making the area attractive for landlords and investors looking for stable cash flows.

The combination of high rental rates, a large share of renters, and strong median incomes makes ZIP 10044 a favorable investment destination for landlords and small-portfolio investors. The robust rental market, as evidenced by the ZORI being above the FMR, indicates that there is ample opportunity to charge market rates for rental units. Furthermore, the high median home value signals a strong local economy and a willingness to pay premium prices for housing, which can translate into higher rental yields. With such a significant portion of the population renting, the demand for rental properties is likely to remain steady, providing a reliable source of income for those who invest in the area.

Data Sources: FMR data from HUD (2027). 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.