Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,900 |
| 1 Bedroom | $3,050 |
| 2 Bedrooms | $3,330 |
| 3 Bedrooms | $4,170 |
| 4 Bedrooms | $4,530 |
| 5 Bedrooms | $5,255 |
| 6 Bedrooms | $5,886 |
| 7 Bedrooms | $6,357 |
| 8 Bedrooms | $6,675 |
U.S. Census Bureau data (2024)
2870 is the Fair Market Rent (FMR) for ZIP code 10519 as of fiscal year 2024, setting a clear benchmark for rental properties in this area. 100.0% of residents in 10519 are renters, indicating a strong demand for rental housing. Despite the high renter share, the market rent for the area is listed as N/A, suggesting a lack of comprehensive data on actual rental prices compared to the FMR. Similarly, the median home value is also listed as N/A, which might imply that homeownership is less prevalent or that there isn't enough data to determine a reliable median. The median income figure for ZIP 10519 is also marked as N/A, making it challenging to assess the financial capabilities of potential tenants without additional research. Days on Market (DOM) is reported as N/A-day, reflecting incomplete data on how quickly rental properties are typically leased. The percentage of listings that have had their prices cut is also noted as N/A%, showing a gap in understanding the pricing dynamics of the local rental market. Given these figures, particularly the 100.0% renter share and the established FMR of $2870, landlords and small-portfolio investors should consider aligning their rental prices closely with the FMR to attract tenants. However, the lack of specific data on market rents and median incomes means that further investigation is necessary to ensure competitive pricing and tenant suitability.
2870 remains the key figure for setting rental prices in ZIP 10519, ensuring compliance with Section 8 guidelines while maximizing returns. With 100.0% of the population renting, there is a robust market for well-priced and maintained rental units. The absence of detailed market data suggests an opportunity for landlords who can fill this informational void, potentially gaining a competitive edge. In conclusion, ZIP 10519 presents a solid opportunity for Section 8 participation, with a clear focus on adhering to the $2870 FMR.
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.