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 | $2,880 |
| 1 Bedroom | $3,030 |
| 2 Bedrooms | $3,300 |
| 3 Bedrooms | $4,180 |
| 4 Bedrooms | $4,580 |
| 5 Bedrooms | $5,313 |
| 6 Bedrooms | $5,951 |
| 7 Bedrooms | $6,427 |
| 8 Bedrooms | $6,748 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,030 | $300,308 | 1.01% | B |
| 2BR | $3,300 | $632,051 | 0.52% | F |
| 3BR | $4,180 | $1,006,179 | 0.42% | F |
| 4BR | $4,580 | $1,515,469 | 0.3% | F |
| 5BR | $5,313 | $2,563,287 | 0.21% | F |
U.S. Census Bureau data (2024)
Mamaroneck, NY, located in ZIP code 10543, stands out in Westchester County with a population of 20,989 residents, where 41.8% of the population rents their homes. The median income in Mamaroneck is $126,417, reflecting a relatively affluent community. However, the median home value of $1,035,458 places it among the higher-end residential areas, indicating a strong preference for homeownership over renting.
The economic landscape for Section 8 vouchers in Mamaroneck is intriguing. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,720, while the Zillow Rent Index (ZORI), which measures the average rent in the area, is significantly higher at $3,380. This suggests that landlords can expect to receive a subsidy that is approximately $660 less per month than the market rate, which could impact the attractiveness of participating in the program.
Despite the lower subsidy rates, Mamaroneck's data signature reads as stable. The high median income and median home values indicate a robust local economy that supports both rental and homeownership markets. The substantial difference between the FMR and ZORI highlights the potential challenge for voucher holders to find suitable housing, but also underscores the premium landlords might command for properties that cater to this demographic. Given these factors, landlords and small-portfolio investors should carefully consider the balance between market demand and the benefits of the Section 8 program before making investment decisions in Mamaroneck.
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.