Section 8 Fair Market Rent (FMR) for ZIP 10110 - 2027

FY 2027 Fair Market Rent Rates

To classify ZIP code 10110, we must consider both the yield and stability factors critical for landlords and small-portfolio investors. The Federal Market Rent (FMR) for ZIP 10110 in fiscal year 2024 is set at $3450. This figure represents the estimated average rent that a tenant would pay for a unit in this area, assuming it meets certain quality standards and is located in a reasonable part of the ZIP code.

The absence of market rent and home value figures suggests that there is limited public data available regarding typical rental rates and property values outside of the FMR context. However, the FMR provides a solid benchmark for assessing potential yields. Given that FMRs often serve as a cap for rental assistance, landlords should expect that the maximum rent they can charge through Section 8 will be around $3450.

Moving on to stability indicators, the lack of percentage of renters, days on market (DOM), and income figures complicates a precise assessment. These metrics typically help gauge how consistent and predictable the rental market is, which is vital for long-term investment planning. Without these specific numbers, it's challenging to determine if the market is stable or volatile.

Based on the available data, ZIP 10110 leans towards being a steady-cashflow zone. The high FMR suggests a strong potential for yield, especially for those utilizing Section 8 vouchers. However, the unknown stability factors prevent a definitive classification. For a complete analysis, landlords and investors would need additional data on local rental trends, property turnover times, and the economic health of the area's residents.

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.