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 | $2,640 |
| 1 Bedroom | $2,780 |
| 2 Bedrooms | $3,030 |
| 3 Bedrooms | $3,830 |
| 4 Bedrooms | $4,200 |
| 5 Bedrooms | $4,872 |
| 6 Bedrooms | $5,457 |
| 7 Bedrooms | $5,894 |
| 8 Bedrooms | $6,189 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,780 | $355,261 | 0.78% | D |
| 2BR | $3,030 | $475,872 | 0.64% | D |
| 3BR | $3,830 | $635,915 | 0.6% | D |
| 4BR | $4,200 | $738,771 | 0.57% | F |
| 5BR | $4,872 | $830,099 | 0.59% | F |
U.S. Census Bureau data (2024)
ZIP code 10541, located in Mahopac, NY, stands out within Putnam County due to several key factors. With a population of 26,361 residents, it has a relatively low rental rate of 11.2%, indicating that homeownership is the predominant housing situation. The median income of $138,617 suggests a prosperous community where residents have disposable income for higher-end housing options. This prosperity is reflected in the median home value of $612,335, which is significantly above the national average.
For landlords and small-portfolio investors considering Section 8 vouchers, the economic landscape is favorable. The Fair Market Rent (FMR) for ZIP 10541 in fiscal year 2024 is set at $2,660, while the typical market rent is $1,888 according to the Census ACS. This discrepancy means that landlords accepting Section 8 vouchers can charge closer to the FMR, thereby earning a higher rent compared to the local market rate. This scenario presents an opportunity for landlords to leverage the government subsidy without compromising on rental income.
The data signature of ZIP 10541 reads as stable. A high median income and a low percentage of renters indicate a community that is financially secure and invested in long-term homeownership. These conditions suggest that the area is unlikely to experience significant changes in the near future, making it a reliable investment option for those looking to enter the rental market through Section 8 programs. The strong financial backing of the government ensures steady tenant income, reducing the risk of vacancy or default.
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.