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 | $3,400 |
| 1 Bedroom | $3,580 |
| 2 Bedrooms | $3,900 |
| 3 Bedrooms | $4,940 |
| 4 Bedrooms | $5,410 |
| 5 Bedrooms | $6,276 |
| 6 Bedrooms | $7,029 |
| 7 Bedrooms | $7,591 |
| 8 Bedrooms | $7,971 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,900 | $549,374 | 0.71% | D |
| 3BR | $4,940 | $772,753 | 0.64% | D |
| 4BR | $5,410 | $953,182 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP code 10606 in White Plains, NY, stands out due to its unique mix of a significant rental population and relatively high median income levels. With 17,341 residents, 65.5% of whom are renters, it reflects a strong demand for affordable housing options. The median household income in the area is $112,270, which is notably above the national average, indicating a robust local economy. However, the median home value of $753,144 suggests that homeownership is out of reach for many residents, further emphasizing the importance of rental properties.
The voucher economics in ZIP 10606 are favorable for landlords. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $2,830, while the Zillow Observed Rent Index (ZORI) indicates a market rent of $2,932. This means that landlords can expect a slight premium over the voucher amount when renting to tenants with Section 8 vouchers, thereby maintaining profitability.
Given the data signature of ZIP 10606, the area reads as stable. The high percentage of renters combined with a healthy median income level supports a consistent demand for rental housing. Additionally, the proximity of FMR to market rent ensures that landlords can manage their properties without significant financial strain. For small-portfolio investors, this stability offers a reliable investment opportunity in a growing market.
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.