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 | $3,300 |
| 1 Bedroom | $3,470 |
| 2 Bedrooms | $3,780 |
| 3 Bedrooms | $4,780 |
| 4 Bedrooms | $5,240 |
| 5 Bedrooms | $6,078 |
| 6 Bedrooms | $6,807 |
| 7 Bedrooms | $7,352 |
| 8 Bedrooms | $7,720 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,470 | $616,910 | 0.56% | F |
| 2BR | $3,780 | $941,293 | 0.4% | F |
U.S. Census Bureau data (2024)
3350 is the Fair Market Rent (FMR) for ZIP 11105 in New York, NY, as designated by HUD for fiscal year 2024. 2903 is the actual market rent, or ZORI, indicating a slight gap between the federally set FMR and what tenants are currently paying. 1153879 represents the median home value, which is significantly higher than the typical rental rates, suggesting a robust housing market where property ownership is valued. 74.5% is the percentage of households that rent, demonstrating a strong demand for rental properties in this area. 102012 is the median income level, which is crucial for understanding the financial capacity of potential tenants. The data does not provide a specific figure for days on market (DOM), but this absence could imply either stable market conditions or a lack of comprehensive reporting. 0.2% is the share of listings that have been price-cut, indicating that the majority of properties are being sold at their original asking price, which is positive for both landlords and small-portfolio investors.
Investors looking to capitalize on Section 8 in ZIP 11105 should consider the disparity between the $3350 FMR and the $2903 ZORI, which presents an opportunity to potentially charge higher rents while still qualifying for the program. The high median home value of $1153879 suggests that there is significant wealth in the area, but with a renter share of 74.5%, it's clear that many residents prefer or need to rent rather than buy. The median income of $102012 provides insight into the economic health of the population and supports the feasibility of renting at or near the FMR.
The low price-cut share of 0.2% is indicative of a seller's market, where homes are likely to sell quickly without needing to be discounted. This stability can translate into consistent tenant interest and lower vacancy rates for rental properties.
In conclusion, ZIP 11105 offers a favorable environment for Section 8 participation, with a strong rental market and a median income level that supports the program's rent limits. The gap between the FMR and ZORI provides a margin for profit, making it a viable option for landlords and small-portfolio investors.
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.