Section 8 Fair Market Rent (FMR) for ZIP 10164 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$3,210
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

To determine if you should invest in ZIP code 10164 for Section 8 properties, follow this decision tree:

Does FMR $3450 cover debt service?
- Yes: Proceed to the next question.
- No: Do not invest in this area as the Fair Market Rent (FMR) does not sufficiently cover the costs associated with owning a property.
Is market rent above, at, or below FMR?
- Above FMR: This indicates a higher demand for rental properties in the area. However, you must still ensure that the FMR can cover the debt service.
- At FMR: This suggests that the market rent aligns with the FMR, making it a stable but not highly profitable investment.
- Below FMR: This is a red flag as it means the market rent is lower than what the government will pay, potentially leading to financial losses.
Are the percentage of renters and days on the market sufficient?
- Yes: The combination of a high percentage of renters and low days on the market indicates strong demand for rental properties in this area. This supports the viability of a Section 8 investment.
- No: Insufficient demand for rentals could result in difficulty finding tenants or prolonged vacancy periods. This makes investing in ZIP 10164 less attractive for Section 8 properties.

Note: Due to the lack of specific data points such as the exact percentage of renters, days on market (DOM), and market rent values, the decision-making process relies heavily on the availability and sufficiency of these metrics. Ensure you have accurate local data before making an investment decision.

If all conditions are met—FMR covers debt service, market rent is competitive or higher, and there is sufficient demand—you may consider investing in ZIP 10164. Otherwise, it depends on how critical each factor is to your investment strategy.

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.