Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,470 |
| 1 Bedroom | $3,660 |
| 2 Bedrooms | $3,980 |
| 3 Bedrooms | $5,040 |
| 4 Bedrooms | $5,520 |
| 5 Bedrooms | $6,403 |
| 6 Bedrooms | $7,171 |
| 7 Bedrooms | $7,745 |
| 8 Bedrooms | $8,132 |
U.S. Census Bureau data (2024)
The classification of ZIP code 10518 hinges significantly on the provided data points, which reveal a unique balance between yield potential and market stability.
On the yield axis, the Family Monthly Rent (FMR) for ZIP 10518 stands at $3330 for fiscal year 2024. This figure suggests a relatively strong rental market, especially considering the lack of comparative data for the local market rent and home values. The FMR indicates the maximum rent that can be charged to tenants participating in the Section 8 program, thereby setting a benchmark for rental income potential in the area.
Moving to the stability axis, the data paints a picture of a niche but stable market. With only 7.1% of residents identified as renters, the ZIP code leans towards a predominantly owner-occupied environment. However, this does not necessarily translate to instability; rather, it implies a smaller pool of potential Section 8 tenants. The median household income of $250,001 signals a robust economic foundation within the community, likely supporting property values and reducing default risks among tenants.
While the lack of specific market rent and days on market (DOM) data limits a comprehensive analysis, the high FMR relative to the median income suggests that the rental market could still offer attractive returns despite being less volatile due to the low percentage of renters. This scenario aligns more closely with a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The absence of significant speculative activity, as indicated by the limited rental population, supports an investment strategy focused on long-term stability and consistent cash flow over rapid capital appreciation.
To summarize, ZIP 10518 is best classified as a steady-cashflow zone. The $3330 FMR provides a solid basis for rental income, while the $250,001 median income ensures a financially secure tenant base. Although the 7.1% rental rate indicates a smaller market size, the combination of these factors points towards a reliable investment opportunity for those seeking stable, predictable returns.
Data Sources: FMR data from HUD (2027). 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.