Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,660 |
| 1 Bedroom | $2,800 |
| 2 Bedrooms | $3,050 |
| 3 Bedrooms | $3,860 |
| 4 Bedrooms | $4,230 |
| 5 Bedrooms | $4,907 |
| 6 Bedrooms | $5,496 |
| 7 Bedrooms | $5,936 |
| 8 Bedrooms | $6,233 |
U.S. Census Bureau data (2024)
2280 represents the Fair Market Rent (FMR) for ZIP code 10566, Peekskill, NY, as set for fiscal year 2024. This figure indicates the maximum amount that landlords can charge tenants participating in the Section 8 program. In contrast, the actual market rent, known as ZORI, stands at $2,608, showing a premium over the subsidized rate. The median home value in the area is $500,780, reflecting a stable housing market. With 40.6% of the population renting, it's clear that there's a significant demand for rental properties. The median income of $85,954 suggests that many residents might find it challenging to afford market rents without assistance. Notably, the day DOM (days on market) is listed as N/A, indicating either a lack of data or a very efficient rental market where listings are quickly filled. The price-cut share of 0.1% further supports the idea that landlords rarely need to reduce their asking prices to attract tenants. Given these factors, investing in Section 8 properties in Peekskill, NY, appears to be a prudent decision, offering both stability and a reliable tenant base. Verdict: Favorable for Section 8 investment.
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.