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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,830 | $991,108 | 0.39% | F |
| 4BR | $4,200 | $1,293,060 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 10570 represents a high-end residential area characterized by a significant number of homeowners. With a total population of 13,289, only 17.8% of residents are renters, indicating a predominantly owner-occupied neighborhood. The economic profile of this area is robust, featuring a median household income of $183,833. This affluence is further reflected in the median home value, which stands at a substantial $988,839.
Despite the strong homeowner presence, the rental market in ZIP 10570 offers interesting opportunities. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,420, which is notably lower than the actual market rent of $3,498 (ZORI). This gap suggests that there is potential for rental properties to command higher rates than the federally determined FMR, particularly if they cater to the affluent demographic.
Given these economic dynamics, ZIP 10570 might not be the ideal location for a hands-off voucher operator due to the relatively low percentage of renters and the high market rents that exceed the FMR. Instead, it is better suited for a hands-on value-add buyer who can leverage the premium market conditions to generate higher returns. Investors looking to manage properties actively and enhance their value through renovations or strategic positioning will find this ZIP code to be a fertile ground for investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.