Section 8 Fair Market Rent (FMR) for ZIP 10528 - 2027

Location: New York, NY | Metro: New York, NY HUD Metro FMR Area

Investment Score for ZIP 10528

Monthly Rent (2BR)

$4,160

Median Price (2BR)

$556,882

1% Rule

0.75%

Annual Yield

8.96%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$3,630
1 Bedroom	$3,820
2 Bedrooms	$4,160
3 Bedrooms	$5,260
4 Bedrooms	$5,770
5 Bedrooms	$6,693
6 Bedrooms	$7,496
7 Bedrooms	$8,096
8 Bedrooms	$8,501

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$4,160	$556,882	0.75%	D
3BR	$5,260	$1,114,385	0.47%	F
4BR	$5,770	$1,857,851	0.31%	F
5BR	$6,693	$2,910,109	0.23%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,091

Median Household Income

$154,416

Housing Units

5,290

Renter Percentage

46.0%

Occupancy Rate

96.4%

Renter Occupied

2,343

The Harrison, NY area, represented by ZIP code 10528, is a prime location for real estate investment, especially for those interested in Section 8 housing opportunities. Situated in Westchester County, it offers proximity to New York City, combined with suburban living amenities.

The Fair Market Rent (FMR) for ZIP 10528 in fiscal year 2024 is set at $3130, providing a benchmark for rental subsidies.
The market rent, as measured by Zillow's ZORI index, stands at $4,413, indicating a strong demand for rental properties above the FMR threshold.
The median home value in Harrison, NY is $1,411,134, reflecting the high-end nature of the real estate market in this area.
Renters make up 46.0% of the population, suggesting a significant portion of residents rely on rental housing, including potential Section 8 tenants.
The median income in Harrison, NY is $154,416, which is well above the national average, pointing to a financially stable resident base.

The data points indicate that Harrison, NY presents a robust opportunity for landlords and small-portfolio investors, particularly those looking to cater to both market-rate and Section 8 tenants. With a market rent significantly higher than the FMR, there is potential for both types of renters to find suitable housing. The high median home value and income suggest a prosperous local economy, which could translate into lower vacancy rates and higher tenant reliability. However, the absence of data regarding days on market (DOM) indicates a need for further investigation into the speed of property turnover and the competitive landscape of the rental market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.