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 | $2,570 |
| 1 Bedroom | $2,700 |
| 2 Bedrooms | $2,940 |
| 3 Bedrooms | $3,720 |
| 4 Bedrooms | $4,080 |
| 5 Bedrooms | $4,733 |
| 6 Bedrooms | $5,301 |
| 7 Bedrooms | $5,725 |
| 8 Bedrooms | $6,011 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,700 | $504,649 | 0.54% | F |
| 2BR | $2,940 | $552,957 | 0.53% | F |
| 3BR | $3,720 | $765,884 | 0.49% | F |
| 4BR | $4,080 | $938,596 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP code 10312 covers Annadale and Eltingville on Staten Island, characterized by a distinct suburban feel within the five boroughs. This area is dominated by single-family homes on tree-lined streets and offers a quieter alternative to the rest of New York City. A key local institution is Staten Island University Hospital’s South site, which serves as a major employer and anchors the community infrastructure. The neighborhood retains a tight-knit atmosphere with local shopping corridors along Hylan Boulevard, making it a desirable location for families seeking space without leaving the city.
From a numerical perspective, the HUD SAFMR for a 2-bedroom unit in FY2024 is $2,440, which creates a favorable gap compared to the current market rent (Zillow ZORI) of $2,427, resulting in a $13 premium for voucher holders. The broader FY2026 Fair Market Rent ladder projects a 2BR rate of $2,830, suggesting significant room for rent growth. Real estate values are substantial here, with a median home value of $754,964 and a median 2BR sale price of $547,779. Properties are moving at a moderate pace, with a median of 57 days on market.
The tenant pool is financially stable and largely owner-occupied, with a renter share of just 17.5% and a median household income of $110,719. This high income level suggests that any Section 8 applicants will likely have supplemental income or be prioritized due to the area’s limited rental stock. The local school system, including Tottenville High School, is generally well-regarded, adding to the neighborhood’s appeal. Transit options include the Staten Island Railway and local buses, providing essential connectivity despite the lack of direct subway access.
The Section 8 verdict for 10312 is a strong play for appreciation and stability rather than immediate high-yield cash flow. The $13 premium over current market rents is modest, so the primary advantage lies in the area’s high asset values and wealthy demographic. Investors can bank on the security of the HUD payment in a market where the median 2BR sale price is over $547,000, ensuring long-term wealth preservation in a solid suburban enclave.
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.