Section 8 Fair Market Rent (FMR) for ZIP 10258 - 2027
Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 |
A skeptical investor considering Section 8 properties in ZIP code 10258 might raise several concerns.
- Will FMR $3450 (zip FY 2024) cover the mortgage on a home?: Data on the exact median home price for ZIP 10258 was not available. However, given the high cost of living in areas with similar ZIP codes nearby, it's likely that the FMR will not cover the mortgage on a typical home in this area. Landlords must consider the potential gap between the FMR and actual mortgage payments when evaluating investment opportunities.
- Is there enough renter demand at N/A%?: The rental vacancy rate for ZIP 10258 was not directly provided. However, understanding the demand for rentals in this area is crucial. If the vacancy rate is low, it suggests strong demand. Conversely, a higher rate may indicate challenges in finding tenants. Landlords should research local rental markets and compare vacancy rates to gauge the likelihood of consistent occupancy.
- Will vouchers keep pace with market rents?: According to the Housing Choice Voucher (HCV) Data Dashboard, the utilization rate for vouchers can vary widely by location. While the national trend shows that voucher usage is stable, the specific rate for ZIP 10258 is not detailed. In high-cost areas, keeping pace with market rents can be challenging due to limited funding. Landlords should monitor local voucher payment standards and be prepared for potential adjustments.
The data does not fully address all concerns, particularly regarding the precise median home price and rental vacancy rate for ZIP 10258. These factors are critical for assessing the viability of Section 8 investments. Landlords and investors should conduct thorough local market analysis to make informed 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.