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 ZIP code 10177 is located in the Upper West Side of Manhattan, New York City. It is a densely populated urban neighborhood characterized by its mix of residential buildings, ranging from historic brownstones to modern high-rises. According to recent data, the neighborhood has a median age of 37 years, indicating a diverse demographic profile.
The neighborhood's economic landscape is robust, though specific figures for population, percentage of renters, and median income are not currently available. However, the median home value in the area is notably high, reflecting the overall cost of living in Manhattan.
Transitioning to the rent economics, the Fair Market Rent (FMR) for ZIP 10177 in fiscal year 2024 is set at $3,450. This figure is crucial for landlords participating in the Section 8 Housing Choice Voucher program, as it dictates the maximum allowable rent for a standard unit. In contrast, the market rent for similar properties in the area is not explicitly stated but can be assumed to exceed the FMR given the competitive nature of the Upper West Side real estate market.
The disparity between the FMR and the market rent suggests that this area is best suited for hands-on value-add buyers rather than hands-off voucher operators. Landlords who are willing to invest in property improvements and management practices can potentially achieve higher returns compared to those relying solely on government subsidies. The vibrant and sought-after location of the Upper West Side offers opportunities for增值投资，而不是仅仅依赖政府补贴的房东。上西城的活力和受欢迎程度为积极管理房产的房东提供了更高的回报潜力。
For landlords considering the Section 8 program in ZIP 10177, it is important to weigh the benefits of stable, government-backed rental income against the potential for higher market rents through active property management. The decision should align with individual investment strategies and risk tolerance.
Given the data, the Upper West Side presents a unique challenge where the market dynamics favor proactive landlords who are prepared to engage deeply with their properties and tenants.
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.