Section 8 Fair Market Rent (FMR) for ZIP 10166 - 2027

FY 2027 Fair Market Rent Rates

The analysis of ZIP code 10166 within the New York, NY HUD Metro FMR Area reveals several critical insights for landlords and small-portfolio investors.

Firstly, regarding the rent math, the Family Monthly Rent (FMR) set at $3450 for fiscal year 2024 does not provide a clear comparison due to the lack of available market rent data. This makes it challenging to determine if the rent charged under Section 8 meets the market standards in this area.

Secondly, assessing the affordability of property acquisition, the absence of specific data on median home values, days on market (DOM), and the percentage of price cuts shared among properties means that there is insufficient information to gauge how competitive or costly it might be to acquire a property in ZIP 10166.

Thirdly, evaluating tenant demand, the data does not specify the population size or the percentage of residents who are renters. Without these figures, it's difficult to ascertain whether there is a robust pool of potential tenants seeking rental housing under the Section 8 program.

In conclusion, while the Family Monthly Rent (FMR) of $3450 for ZIP 10166 is established, the lack of comprehensive data on market rents, median home values, days on market, price cut percentages, and tenant demographics leaves significant gaps in understanding the viability of Section 8 investments in this area. Landlords and investors should seek additional local market intelligence before making any investment decisions.

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.