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 |
ZIP code 10174 is situated within the New York, NY HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 10174 in fiscal year 2024 is set at $3450. This figure provides a benchmark for rental prices that landlords can charge while still being eligible for Section 8 subsidies.
Comparatively, typical ZIP codes within the New York, NY HUD Metro FMR Area have varying FMRs, but the specific data for market rents, home values, and renter shares for these typical ZIPs is not provided. However, it's known that New York City generally has higher-than-average housing costs, with FMRs reflecting a wide range of affordability across different neighborhoods.
The absence of market rent and home value data for ZIP 10174 makes direct comparisons challenging. However, based on the FMR alone, 10174 appears to be a mid-tier neighborhood within its metro area. An FMR of $3450 suggests a moderate level of rental pricing, neither the highest nor the lowest within the broader New York metropolitan area.
The lack of specific percentages for the renter share also limits the ability to fully assess the potential attractiveness of ZIP 10174 for Section 8 tenants. High renter share with below-metro average home values typically indicates a sweet spot for Section 8 properties, as it suggests a larger pool of potential tenants who might benefit from lower rental costs relative to home values. However, without concrete figures, such an inference cannot be made definitively.
To determine if ZIP 10174 represents a value pocket or a premium sub-market, more detailed comparative data would be necessary. Landlords and small-portfolio investors should consider conducting further research into local market conditions, including trends in rental prices and home values, to better understand the economic dynamics of this ZIP code.
In conclusion, while ZIP 10174's FMR of $3450 places it in a moderate category within the New York, NY HUD Metro FMR Area, the incomplete data restricts a full assessment of its status as a value pocket or premium sub-market. Investors should look into additional metrics to make informed decisions regarding property investments in this area.
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.