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 | $3,360 |
| 1 Bedroom | $3,540 |
| 2 Bedrooms | $3,850 |
| 3 Bedrooms | $4,870 |
| 4 Bedrooms | $5,340 |
| 5 Bedrooms | $6,194 |
| 6 Bedrooms | $6,937 |
| 7 Bedrooms | $7,492 |
| 8 Bedrooms | $7,867 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $4,870 | $1,133,895 | 0.43% | F |
| 4BR | $5,340 | $1,607,592 | 0.33% | F |
| 5BR | $6,194 | $2,386,711 | 0.26% | F |
U.S. Census Bureau data (2024)
ZIP code 10533 is home to 7,362 residents, with 18.2% being renters. The median household income in this area is notably high at $174,038. Given these figures, it is evident that this is not a renter-heavy ZIP code nor an area with deep voucher demand. Instead, it leans towards being a homeowner-dominated area where vouchers are relatively scarce.
The market rent in ZIP 10533 stands at $3,163. This amount represents approximately 18.1% of the median household income, indicating that typical rents consume a significant but manageable portion of local incomes. For context, the Fair Market Rent (FMR) for the area, as set for FY 2024, is $2,340. This suggests that the market rent exceeds the FMR by about $823, or roughly 35.2%, reflecting a premium rental market.
Landlords in this ZIP can expect tenants who are likely employed in higher-paying jobs, given the median income level. These tenants would be able to afford market rates without relying heavily on government assistance. However, those who do use Section 8 vouchers will still find the area affordable compared to the market rate, though they may struggle more to cover additional costs beyond what the voucher subsidizes.
To summarize, ZIP 10533 is characterized by a predominantly owner-occupied housing stock with a smaller segment of renters who generally have strong financial backing. The high median income supports a robust ability to pay market rents, which are above the FMR. Landlords should prepare for a mix of tenants, including some who rely on vouchers, but overall, the area is skewed towards higher-income individuals capable of paying premium rents.
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.