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 | $2,700 |
| 1 Bedroom | $2,840 |
| 2 Bedrooms | $3,090 |
| 3 Bedrooms | $3,910 |
| 4 Bedrooms | $4,290 |
| 5 Bedrooms | $4,976 |
| 6 Bedrooms | $5,573 |
| 7 Bedrooms | $6,019 |
| 8 Bedrooms | $6,320 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,840 | $296,896 | 0.96% | C |
| 2BR | $3,090 | $454,069 | 0.68% | D |
| 3BR | $3,910 | $757,881 | 0.52% | F |
| 4BR | $4,290 | $921,839 | 0.47% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 10603 in White Plains, NY, reveals a market that is moderately balanced between yield and stability. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $2,520, which is significantly higher than the current market rent of $1,996. This suggests a potential for higher rental yields if properties can be leased at or near the FMR rate.
However, the median home value of $652,949 indicates a relatively expensive market, which might limit the number of potential tenants who can afford to live there. The rental market is supported by a substantial portion of renters, with 35.4% of the population renting their homes. This figure points towards a stable demand for rental properties.
The absence of data on the average days on market (DOM) makes it challenging to assess the speed at which properties can be rented out. Nonetheless, the median household income of $121,026 provides a positive outlook on the financial capability of residents to meet higher rental costs.
In summary, ZIP 10603 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR compared to the market rent supports good cash flow opportunities, while the significant percentage of renters and strong household income figures bolster the stability aspect of the market.
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.