| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $3,800 |
| 1 Bedroom | $3,990 |
| 2 Bedrooms | $4,370 |
| 3 Bedrooms | $5,470 |
| 4 Bedrooms | $5,950 |
Location: New York, NY
Metro Area: New York, NY HUD Metro FMR Area
Explore Section 8 payment standards in nearby ZIP codes:
Market Overview: The 10024 ZIP code (Upper West Side) is a premium Manhattan market with strong rental demand from professionals and affluent families. Prices remain elevated despite recent softening in the luxury segment. Long-term outlook remains positive due to limited supply and persistent demand.
Median Sales Prices (ZIP 10024):
• 2BR: $1,200,000
• 3BR: $1,650,000
1% Rule Analysis:
• 2BR: $4,370 ÷ $1,200,000 = 0.36% 👎 Below 1% Rule
• 3BR: $5,470 ÷ $1,650,000 = 0.33% 👎 Below 1% Rule
Investment Potential: High acquisition costs and low rent-to-price ratios make cash flow challenging. Properties here are better suited for long-term appreciation plays rather than cash flow investments. Consider focusing on luxury finishes to command premium rents.
Key Insights:
• High acquisition costs require significant capital appreciation for profitability
• Rental yields are low but demand remains strong for quality units
• Consider co-living or luxury rental strategies to maximize rent
• Focus on properties with unique features or locations that can command premium rents