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 | $3,190 |
| 1 Bedroom | $3,350 |
| 2 Bedrooms | $3,650 |
| 3 Bedrooms | $4,620 |
| 4 Bedrooms | $5,060 |
| 5 Bedrooms | $5,870 |
| 6 Bedrooms | $6,574 |
| 7 Bedrooms | $7,100 |
| 8 Bedrooms | $7,455 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,650 | $713,452 | 0.51% | F |
| 3BR | $4,620 | $1,016,315 | 0.45% | F |
| 4BR | $5,060 | $1,344,234 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 10522, located in Dobbs Ferry, NY, presents an interesting landscape for both renters and landlords. The median income in this area stands at $165,417, which places it above the national average. However, when juxtaposed against the market-rate rent of $3,525 (ZORI), the financial strain on households becomes apparent. This figure represents nearly 22% of the median income, indicating a significant portion of monthly earnings dedicated to housing.
To provide context, the Fair Market Rent (FMR) for ZIP 10522, as stipulated for the fiscal year 2024, is set at $2,750. This means that for those who qualify for Section 8 housing vouchers, their rent burden would be considerably less, consuming approximately 17% of the median income. The difference between the ZORI and the FMR highlights a notable affordability gap for renters in Dobbs Ferry.
With 36.1% of the 11,502 residents being renters, the competition among landlords is likely to be moderate but present. Given the higher median income, there is a segment of the population capable of paying market rates. However, the presence of Section 8 vouchers offers an alternative for lower-income households, thereby affecting the rental market dynamics.
For landlords considering their strategy regarding voucher versus cash-pay tenants, the key takeaway is to balance risk and reward. While cash-paying tenants might offer higher rents, the stability and government backing of voucher payments can mitigate financial risks. Landlords should evaluate the local demand for both types of tenancy and consider the long-term benefits of each approach.
In conclusion, ZIP 10522's high median income contrasts with its market-rate rents, making it challenging for some households to afford living without assistance. The availability of Section 8 vouchers at $2,750 provides a lifeline for lower-income families, influencing the competitive landscape for landlords. Therefore, landlords must carefully weigh the pros and cons of accepting vouchers to ensure they align with their investment goals and the realities of the local rental market.
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.