Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,220 |
| 1 Bedroom | $3,390 |
| 2 Bedrooms | $3,690 |
| 3 Bedrooms | $4,670 |
| 4 Bedrooms | $5,120 |
| 5 Bedrooms | $5,939 |
| 6 Bedrooms | $6,652 |
| 7 Bedrooms | $7,184 |
| 8 Bedrooms | $7,543 |
U.S. Census Bureau data (2024)
The ZIP code 10527 represents a unique neighborhood, characterized primarily by its exceptionally low population of just 418 residents. This area stands out due to the absence of rental properties, with 0.0% of the housing stock dedicated to renting. The median household income in this exclusive community is $250,001, placing it firmly among the upper echelons of economic status. The median home value here is even more striking at $873,184, indicating a predominantly owner-occupied market with high-end properties.
Despite the lack of rental units, the Fair Market Rent (FMR) for ZIP 10527 has been set at $2500 for the fiscal year 2024. This figure is particularly noteworthy given the scarcity of rental data, suggesting a niche market where any rental property would likely command premium rates. However, the absence of market rent data underscores the rarity of such opportunities, making it challenging to gauge the typical rental values in this area.
Given these characteristics, ZIP 10527 is not an ideal location for a hands-off Section 8 voucher operator. The limited number of eligible tenants and the high-income profile of the residents mean that finding tenants who qualify for the voucher program could be difficult. On the other hand, for a hands-on value-add buyer, this ZIP code presents a compelling opportunity. With the potential to develop or acquire properties that can cater to both high-income residents and those seeking affordable housing through the Section 8 program, the savvy investor could create a valuable asset. The high median home value also suggests that there is significant potential for appreciation, especially if the investment focuses on enhancing property quality and appeal.
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.