Section 8 Fair Market Rent (FMR) for ZIP 10535 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 10535, located in Westchester County, New York, is part of the larger metropolitan area surrounding New York City. Known for its suburban charm and proximity to urban amenities, this region attracts a diverse mix of residents, including families and young professionals. The area benefits from good school districts and easy access to transportation, making it an attractive location for both renters and homeowners.

• Fair Market Rent (FMR) for ZIP 10535 in fiscal year 2024 is set at $2500. This figure represents the maximum amount that a household participating in the Section 8 program can be charged for a two-bedroom rental unit, providing a benchmark for subsidized housing costs in the area.
• The market rent for a typical two-bedroom apartment in ZIP 10535 is $1,898 according to the Census Bureau's American Community Survey. This indicates that the actual rental prices are below the FMR, suggesting potential opportunities for landlords who can offer quality housing at or near the FMR level.
• Renters make up 76.4% of the population in ZIP 10535. With such a high percentage of residents renting their homes, there is a strong demand for rental properties, which bodes well for landlords and small-portfolio investors looking to capitalize on the rental market.
• The median income in ZIP 10535 is $66,189. This income level supports a robust rental market where tenants can afford higher rents, especially those close to the FMR, while still being within reach of many households.
• The median home value in ZIP 10535 is not available. This lack of data suggests that the area might be predominantly rental-focused, further emphasizing the importance of the rental market over homeownership for investment purposes.
• The Days on Market (DOM) for listings is not specified. However, given the high renter share and the competitive nature of the rental market, it's likely that rental units turn over quickly, indicating a fast-paced market for finding new tenants.

In summary, ZIP 10535 presents a favorable environment for rental investments due to its high renter population and proximity to urban centers. Landlords can leverage the gap between the FMR and the actual market rent to attract Section 8 participants and other renters, ensuring steady cash flow. The median income supports the ability of residents to pay rents near the FMR, making it a practical target for rental pricing strategies. Despite the unavailability of specific DOM data, the strong rental demand implies a brisk market for property turnover. Overall, the ZIP code offers solid returns for those investing in rental properties, particularly those meeting or exceeding Section 8 standards.

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.