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 | $2,950 |
| 1 Bedroom | $3,100 |
| 2 Bedrooms | $3,380 |
| 3 Bedrooms | $4,280 |
| 4 Bedrooms | $4,690 |
| 5 Bedrooms | $5,440 |
| 6 Bedrooms | $6,093 |
| 7 Bedrooms | $6,580 |
| 8 Bedrooms | $6,909 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 4BR | $4,690 | $1,056,316 | 0.44% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 10594 reveals a favorable environment for those looking to cashflow with their rental properties. The HUD Fair Market Rent (FMR) for the area is set at $2,650 for fiscal year 2024, which is notably higher than the Census American Community Survey (ACS) reported average market rent of $2,458. This indicates that voucher tenants will generally cashflow at the FMR level, providing landlords with a buffer against potential market fluctuations.
To further understand the investment dynamics, consider the median home value in the area, which stands at $890,868. The rent-to-price ratio can be calculated by dividing the annual rent ($2,458 * 12 = $29,496) by the median home value. This results in a ratio of approximately 3.3%, suggesting that rental income represents a small fraction of the total property value. However, given the higher FMR, the effective rent-to-price ratio for voucher tenants is closer to 3.7%. This is a positive sign for investors, as it implies a relatively high rental yield compared to the purchase price of homes in the area.
While the data does not provide a specific median Days on Market (DOM) or percentage of price cuts, these metrics are typically less relevant in a rental-focused strategy. Instead, the emphasis should be on the steady income provided by Section 8 vouchers, which can help stabilize cash flow even when market rents fluctuate. Given the current FMR and market rent data, landlords can expect to see positive cash flow without needing to focus on premium units, although such units might offer additional benefits.
The strongest investor angle in ZIP 10594 is cashflow. With the HUD FMR above the market rent, voucher tenants can cover operating costs and provide a reliable source of income for landlords and small-portfolio investors.
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.