Section 8 Fair Market Rent (FMR) for ZIP 10185 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 10185, located in New York, encompasses a vibrant urban neighborhood known for its diverse population and blend of residential and commercial properties. This area is particularly interesting for real-estate investors due to its proximity to key business districts and amenities, making it a desirable location for both homeowners and renters.

• Fair Market Rent (FMR): The Fair Market Rent for ZIP 10185 in fiscal year 2024 is set at $3450, indicating the rental value benchmark established by HUD for the area.
• Market Rent: Data on the actual market rent for ZIP 10185 is currently unavailable, suggesting that there might be discrepancies between the government's FMR and what landlords can charge in the open market.
• Median Home Value: There is no available data on the median home value for ZIP 10185, which could imply a lack of comprehensive housing statistics or a predominance of rental properties over owner-occupied homes.
• Renter Share: The percentage of residents who are renters in ZIP 10185 is also not available, but given the high FMR, it is likely that a significant portion of the population consists of renters rather than homeowners.
• Days on Market (DOM): The average days on market for properties in ZIP 10185 is not provided, which could mean that listings move quickly once they hit the market, or there might be a limited supply of listings.
• Median Income: The median income figure for ZIP 10185 is currently unavailable, making it difficult to assess the financial capacity of potential tenants or buyers.

Investors looking to enter the ZIP 10185 market should be aware of the high Fair Market Rent set at $3450, which suggests strong demand for rental properties. However, the absence of other key data points such as market rent, median home values, and median income figures means that a thorough local market analysis will be necessary to make informed decisions. Despite these gaps, the high FMR indicates that this area could be profitable for those willing to invest in rental properties, especially if they can find units below the HUD benchmark. It is crucial to conduct additional research to fill in the missing pieces of the puzzle before committing capital.

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.