Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,720 |
| 1 Bedroom | $2,870 |
| 2 Bedrooms | $3,120 |
| 3 Bedrooms | $3,950 |
| 4 Bedrooms | $4,330 |
| 5 Bedrooms | $5,023 |
| 6 Bedrooms | $5,626 |
| 7 Bedrooms | $6,076 |
| 8 Bedrooms | $6,380 |
U.S. Census Bureau data (2024)
ZIP 10968, located in Piermont, NY, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $3320, which is notably higher than the current market rent of $3125. This positive spread ensures that landlords participating in the Section 8 program will receive slightly above-market rents, providing a stable and predictable source of income.
The median home value in ZIP 10968 stands at $787,125, indicating a high-cost area where owning property can be expensive. However, the guaranteed rental income from the Section 8 program helps mitigate this risk by ensuring landlords receive a fixed amount that is above the local market rate. This makes ZIP 10968 particularly attractive for investors looking to secure consistent cash flow without the volatility often associated with market-rate rentals.
While there is no specific data on price-cut share or days on market (DOM), the high median income of $145,000 suggests a strong economic base that supports housing demand. With a renter share of 33.2%, there is a significant portion of the population who rely on rental properties, including those who might benefit from the Section 8 program due to its affordability.
In conclusion, ZIP 10968 should be considered a cash-flow anchor in a Section 8 portfolio strategy. The $195 spread between the FMR and market rent, combined with the high median income and substantial renter share, provides a solid foundation for generating reliable income. Landlords and small-portfolio investors can leverage this opportunity to ensure steady returns while also contributing to the local housing market by offering affordable units.
Data Sources: FMR data from HUD (2027). 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.