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 FMR (zip FY 2024) indicates the Fair Market Rent for ZIP 10170, which is the benchmark used by the Housing Choice Voucher Program, commonly known as Section 8. This figure represents the maximum rental amount eligible for voucher assistance in the area.
N/A market rent (N/A) suggests that there is no specific data available regarding the average market rent for ZIP 10170, possibly due to the unique characteristics of the housing market in this particular area of New York City.
N/A median home value reflects the lack of data on single-family homes or condominiums in this densely populated urban ZIP code, where apartment rentals dominate the real estate landscape.
N/A% renter share implies that there is insufficient data to determine the percentage of renters versus homeowners in ZIP 10170, though it's reasonable to assume a high share given the city's context.
N/A median income points to the absence of detailed income data for ZIP 10170, making it challenging to assess the financial health of potential tenants in the area.
N/A-day DOM and N/A% price-cut share indicate that there is no specific data available on the days-on-market or the frequency of price reductions for properties in ZIP 10170. This could be due to the rapid turnover and competitive nature of the rental market in this part of Manhattan.
The data shows that ZIP 10170 has a very small population with only 40 residents and 0 households, according to recent records. This unusually low figure might be attributed to the specific geographical and demographic characteristics of the area, such as being primarily commercial or having limited residential space.
Given the high FMR of $3450 and the lack of detailed market data, landlords and small-portfolio investors should consider the robust demand for rental properties in this area of Manhattan. The absence of significant homeowner competition and the high density of potential renters make this ZIP code an attractive investment opportunity for those willing to navigate the complexities of the urban rental market.
Section 8 Verdict: ZIP 10170 presents a strong opportunity for Section 8 participation, with high FMRs aligning well with the program's funding limits.
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.