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 ZIP code 10154, located in New York County, stands out due to its unique demographic and economic characteristics. With a total of 17,446 residents, 54.7% of whom rent their homes, this area reflects a significant demand for rental properties. The median income in ZIP 10154 is $63,936, which is notably lower than the national average, indicating a segment of the population that may rely on assistance programs such as Section 8 vouchers.
The median home value in 10154 is $438,000, illustrating the high cost of homeownership in this part of New York City. For landlords and small-portfolio investors, the most pertinent figure is the Fair Market Rent (FMR), which for ZIP 10154 is set at $3,450 for the fiscal year 2024. This FMR is crucial because it defines the maximum rent that can be charged to tenants using Section 8 vouchers. Despite the lack of specific market rent data, the FMR provides a benchmark for understanding the rental landscape and the potential income from Section 8 tenants.
Investing in properties in ZIP 10154 with an eye towards Section 8 participation requires a keen understanding of the local housing market. Landlords should be aware that while the FMR is a guide, actual rents may vary based on property condition, location, and amenities. However, the FMR ensures a level of stability in rental income, protecting against sudden drops in market rates that could affect profitability.
The data signature for ZIP 10154 reads as stable, with consistent demographics and a well-established role for Section 8 vouchers in the rental market. This stability can provide comfort to investors looking for reliable returns, though they should also consider the ongoing maintenance and management required to meet the standards set by the Section 8 program.
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.