Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,910 |
| 1 Bedroom | $3,060 |
| 2 Bedrooms | $3,330 |
| 3 Bedrooms | $4,210 |
| 4 Bedrooms | $4,620 |
| 5 Bedrooms | $5,359 |
| 6 Bedrooms | $6,002 |
| 7 Bedrooms | $6,482 |
| 8 Bedrooms | $6,806 |
U.S. Census Bureau data (2024)
The ZIP code 10545 is situated in the charming village of Tarrytown, New York, a part of Westchester County known for its picturesque landscapes and historical significance. With a population of 185, it's clear that this area is predominantly residential, catering to families and individuals seeking a quiet, suburban lifestyle. Although specific percentages of renters and median income figures are not available, the median home value in this region suggests a middle to upper-middle-class demographic.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 10545 is set at $2490 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors considering participation in the Section 8 housing choice voucher program. The FMR provides a benchmark for rental rates that are deemed reasonable and fair for low-income families. While the exact market rent for the area is not specified, the FMR can be used as a guideline for setting competitive yet affordable rental prices.
Given the characteristics of ZIP 10545, it would likely appeal to both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable and predictable demand for affordable housing, supported by the Section 8 program, can provide a reliable stream of income with minimal tenant turnover. On the other hand, for hands-on investors looking to add value, there may be opportunities to improve properties and command slightly higher rents, still within the bounds of the FMR, thereby increasing cash flow.
In summary, ZIP 10545 offers a serene living environment that could attract both types of investors. The combination of historical charm and natural beauty makes it an attractive location, while the Section 8 FMR of $2490 ensures a balance between affordability and profitability for landlords.
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.