Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,590 |
| 1 Bedroom | $3,780 |
| 2 Bedrooms | $4,110 |
| 3 Bedrooms | $5,200 |
| 4 Bedrooms | $5,700 |
| 5 Bedrooms | $6,612 |
| 6 Bedrooms | $7,405 |
| 7 Bedrooms | $7,997 |
| 8 Bedrooms | $8,397 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $4,110 | $819,670 | 0.5% | F |
| 3BR | $5,200 | $1,302,974 | 0.4% | F |
| 4BR | $5,700 | $1,693,385 | 0.34% | F |
| 5BR | $6,612 | $2,205,197 | 0.3% | F |
U.S. Census Bureau data (2024)
The ZIP code 10514, located in Chappaqua, NY, presents a unique balance on the yield and stability spectrum for real estate investment. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $3,530, significantly higher than the market rent of $2,667. This suggests a potential opportunity for higher rental yields when compared to the average market rate. However, the median home value in the area stands at $1,443,747, indicating a relatively expensive market entry point.
In terms of stability, only 12.7% of the residents are renters, which implies a lower demand for rental properties and could lead to increased vacancy risks. Additionally, the median household income is quite high at $250,001, suggesting that the population has the financial capacity to afford higher rents but also potentially indicating a preference for homeownership over renting. The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties are typically leased in this area.
Given these factors, ZIP 10514 does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it occupies a middle ground where the potential for high rental yields exists due to the favorable FMR, but this must be weighed against the low percentage of renters and the high cost of entry into the market. Landlords and small-portfolio investors should carefully consider these elements before making investment decisions in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
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.