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 | $2,660 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,050 | $776,170 | 0.39% | F |
| 3BR | $3,860 | $1,169,895 | 0.33% | F |
| 4BR | $4,230 | $1,442,022 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 10706, located in Hastings on Hudson, NY, presents an interesting mix of yield and stability for real-estate investors. The Fair Market Rent (FMR) for the area is set at $2,670 for fiscal year 2024, which is significantly higher than the market rent of $1,877. This indicates a potential high-yield opportunity for landlords who can secure Section 8 tenants. However, the median home value of $1,091,998 suggests that the area is primarily residential and likely has a mix of owner-occupied homes and rental properties.
In terms of stability, the ZIP code shows that only 18.5% of residents are renters, indicating a lower demand for rental housing compared to other areas. The lack of data on days on market (DOM) makes it difficult to assess the speed at which rental units are typically filled. Additionally, the median household income in the area is $190,833, which is quite high and could suggest that there might be a preference for homeownership over renting among the local population.
Given these figures, ZIP 10706 does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it appears to be a niche market where the high FMR for Section 8 tenants contrasts with a low percentage of renters and a high median home value. The high income level suggests financial stability among residents but also implies a strong inclination towards purchasing rather than renting.
Investors should consider the limited rental market and the potential challenges in finding and retaining Section 8 tenants. While the yield is promising, the overall stability of the rental market is questionable due to the low percentage of renters and the high cost of living in the area.
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.