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 | $2,890 |
| 1 Bedroom | $3,040 |
| 2 Bedrooms | $3,310 |
| 3 Bedrooms | $4,190 |
| 4 Bedrooms | $4,590 |
| 5 Bedrooms | $5,324 |
| 6 Bedrooms | $5,963 |
| 7 Bedrooms | $6,440 |
| 8 Bedrooms | $6,762 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,040 | $284,853 | 1.07% | B |
| 2BR | $3,310 | $409,354 | 0.81% | C |
U.S. Census Bureau data (2024)
2980 In ZIP code 11415 of New York, NY, the Fair Market Rent (FMR) for Section 8 eligibility in fiscal year 2024 is set at $2980. This figure represents the maximum amount a landlord can charge for a unit to be considered affordable under the program. 2460 The market rent, known as the Zillow Observed Rent Index (ZORI), stands at $2,460, indicating that properties within this ZIP code are generally priced below the Section 8 threshold. 367710 With a median home value of $367,710, the area offers a mix of affordability and investment potential. 555 Over half, specifically 55.5%, of the households in this region are renters, highlighting a strong demand for rental properties. 86394 The median income in the area is $86,394, suggesting that tenants may have the financial stability to meet rental obligations. N/A The data does not provide the average days on the market (DOM) for listings, which could indicate either a robust real estate market or a lack of comprehensive tracking. 01 Only 0.1% of the listings in this ZIP code have been marked down in price, pointing towards a resilient housing market where property values remain relatively stable. 2980 Given these factors, landlords and small-portfolio investors in ZIP code 11415 should find the Section 8 program to be a viable option for maintaining occupancy rates and ensuring steady cash flow.
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.