Section 8 Fair Market Rent (FMR) for ZIP 10965 - 2027

Location: New York, NY | Metro: New York, NY HUD Metro FMR Area

Investment Score for ZIP 10965

Monthly Rent (2BR)

$3,040

Median Price (2BR)

$593,897

1% Rule

0.51%

Annual Yield

6.14%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,650
1 Bedroom	$2,790
2 Bedrooms	$3,040
3 Bedrooms	$3,850
4 Bedrooms	$4,220
5 Bedrooms	$4,895
6 Bedrooms	$5,482
7 Bedrooms	$5,921
8 Bedrooms	$6,217

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,790	$363,101	0.77%	D
2BR	$3,040	$593,897	0.51%	F
3BR	$3,850	$688,245	0.56%	F
4BR	$4,220	$777,311	0.54%	F
5BR	$4,895	$900,531	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

15,206

Median Household Income

$132,660

Housing Units

5,975

Renter Percentage

23.4%

Occupancy Rate

96.1%

Renter Occupied

1,344

The ZIP code 10965, located in Pearl River, NY, is situated in a suburban setting with easy access to New York City, making it an attractive location for both homeowners and renters. The area offers a mix of residential properties, including single-family homes and apartments, catering to various lifestyles and investment opportunities.

The Fair Market Rent (FMR) for ZIP 10965 is set at $2,550 for the fiscal year 2024, indicating a high rental standard for the region.
The Zillow Observed Rental Index (ZORI) places the average market rent at $2,100, suggesting that while rents are high, they are slightly below the FMR, leaving room for competitive pricing strategies.
The median home value in the area stands at $703,076, reflecting a strong and stable housing market with significant equity potential for property owners.
Renters make up 23.4% of the population, highlighting a notable demand for rental properties and underscoring the importance of maintaining a balance between rental and owner-occupied units.
The median income in ZIP 10965 is $132,660, which supports higher rental rates and suggests a robust economic base capable of sustaining property values and rental incomes.

In summary, ZIP 10965 presents a favorable market for landlords and small-portfolio investors. With a median home value of $703,076 and a median income of $132,660, the area has a solid economic foundation. Although the ZORI indicates a market rent lower than the FMR, the significant renter share and proximity to NYC offer ample opportunities for generating steady rental income. Landlords should focus on positioning their properties competitively within the $2,100 to $2,550 range to attract tenants and maximize returns. This analysis underscores the potential for both capital appreciation and rental yield in Pearl River, NY.

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.