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 classification of ZIP 10159 (Unknown, NY) as a high-yield/low-stability flip-style market, a steady-cashflow zone, or something in between requires analysis based on the provided figures and additional data from recent sources.
The Fair Market Rent (FMR) for ZIP 10159 in fiscal year 2024 is set at $3450. This figure is critical for understanding potential rental yields. However, the lack of specific market and home value data makes it challenging to provide a precise classification. To proceed, we need to consider the available housing prices and the general economic context of the area.
From the Zillow search, we see a range of properties listed for sale. The most expensive property listed is priced at $128,000,000, while others are much more affordable, such as a home priced at $82,000. These figures suggest significant variability in the market, which could indicate a mix of luxury and more modest residential areas. However, without knowing the median or average home values, it's difficult to assess the typical investment potential.
The stability of the market can be gauged by factors such as the percentage of renters, days on market (DOM), and median household income. Unfortunately, the provided data does not include these specifics. Without this information, we cannot accurately determine if the area is stable enough to offer consistent cash flow or if it is prone to volatility that might appeal to flippers looking for quick profits.
To make a definitive call, we would need to gather more specific data on home values, the percentage of renters, and the median income of the residents in ZIP 10159. Until then, based on the high FMR and the presence of both luxury and more affordable listings, we can tentatively suggest that this market leans towards offering higher yields, but its stability remains unclear without further details.
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.