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 | $2,340 |
| 1 Bedroom | $2,460 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,390 |
| 4 Bedrooms | $3,720 |
| 5 Bedrooms | $4,315 |
| 6 Bedrooms | $4,833 |
| 7 Bedrooms | $5,220 |
| 8 Bedrooms | $5,481 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,680 | $420,032 | 0.64% | D |
| 3BR | $3,390 | $434,405 | 0.78% | D |
| 4BR | $3,720 | $486,658 | 0.76% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 10993, located in West Haverstraw, NY, reveals several key points regarding rental income and property values. The HUD Fair Market Rent (FMR) for the area is set at $2,210 per month for fiscal year 2024. In contrast, the Census American Community Survey (ACS) reports the average market rent at $1,557 per month. This indicates that voucher tenants can cashflow positively at the FMR rate, providing a significant buffer above typical market rents.
To further analyze the investment potential, consider the median home value in the area, which stands at $426,009. Using the FMR of $2,210, the rent-to-price ratio is approximately 0.66%, calculated by dividing the annual rent ($2,210 * 12) by the median home value. This ratio suggests that the rental income is relatively low compared to the property value, but it still provides a positive cash flow given the substantial gap between FMR and market rents.
The dynamics of the local housing market show that the days on market (DOM) and the percentage of price cuts are not applicable (N/A) for this analysis. However, this does not detract from the strong cash flow potential for investors. The stability of the rental market, combined with the guaranteed income from the Section 8 program, offers a reliable source of monthly revenue that exceeds typical market rates.
The strongest angle for Section 8 investors in ZIP 10993 is cash flow, as the FMR significantly outpaces the average market rent, ensuring a consistent and positive financial outcome.
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.