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 10272 falls within the New York, NY HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $3450. While specific market rent and home value data are not available for this ZIP code, we can make some inferences based on the provided FMR figure.
The FMR of $3450 in ZIP 10272 is likely to be representative of the rental market in this area, given that it aligns closely with the broader trends within the New York, NY HUD Metro FMR Area. Typically, ZIP codes within this metro area have FMRs ranging from around $3000 to over $4000, depending on their location and desirability.
Given the absence of direct market rent and home value comparisons, we must rely on the FMR as a proxy for understanding the relative positioning of ZIP 10272. An FMR of $3450 suggests that this ZIP code is neither a value pocket nor a premium sub-market, but rather a mid-tier neighborhood within the metro area. This FMR is indicative of moderate rental costs, which are common in areas that are still desirable but not among the most expensive parts of the city.
The lack of specific data on market rent, home values, and renter share percentages means we cannot definitively identify ZIP 10272 as a sweet spot for Section 8 properties. However, if we were to infer from the FMR alone, it would suggest that landlords in this area might find a balance between affordable rents and decent returns on investment. The absence of a high renter share percentage could imply that there's a mix of homeowners and renters, which is also typical for many mid-tier neighborhoods in New York.
To determine if ZIP 10272 is indeed a sweet spot for Section 8 investments, additional data on local market conditions, such as actual market rents and the percentage of residents who qualify for Section 8 assistance, would be necessary. Until then, the current information points towards a mid-tier status within the larger metro area context.
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.