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 |
3450 is the Fair Market Rent (FMR) for ZIP code 10126 in fiscal year 2024, setting the benchmark for rental properties eligible under the Section 8 program. This figure represents the maximum amount landlords can charge for a unit to participate in the housing assistance program. Despite the lack of specific data on market rent, median home value, renter share, median income, days on market (DOM), and the percentage of price-cut share, the FMR provides a clear guideline for pricing units in this area. Landlords should ensure their rental rates align closely with this standard to maximize participation and benefit from the program. The absence of detailed local market data makes it challenging to compare the FMR against typical rental prices or home values, but it is evident that the Section 8 rate offers a significant opportunity for consistent income without the volatility often seen in the private rental market. For small-portfolio investors, the stability offered by the Section 8 program can be particularly appealing, as it guarantees a steady stream of government-subsidized payments at the established rate. While the exact percentage of renters who might be interested in Section 8 properties is unknown, the program's popularity and the high FMR suggest a strong demand for affordable housing options in this area. The median income figure is also unavailable, which means we cannot directly assess the economic profile of potential tenants, but the high FMR indicates that even middle-income families might find it difficult to afford market-rate rentals without assistance. In conclusion, the Section 8 program in ZIP 10126 offers a solid investment opportunity, with a clear FMR of $3450 guiding landlords on how to price their units for eligibility.
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.