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 | $241,357 | 1.12% | B |
| 2BR | $2,940 | $305,605 | 0.96% | C |
| 3BR | $3,720 | $643,034 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP code 10462 covers the Parkchester and Unionport sections of the Bronx, characterized primarily by dense Art Deco co-op complexes and post-war brick walk-ups. This is a quintessential working-class neighborhood where the housing stock consists largely of mid-rise elevator buildings rather than brownstones. The local economy is anchored by significant healthcare and educational presences, including the Montefiore Medical Center’s Moses Division, which serves as a major employer providing steady jobs to area residents.
Financially, the area presents a tight arbitrage opportunity. The HUD Fair Market Rent for a 2-bedroom unit in FY2024 is $2,670, while Zillow’s observed market rent (ZORI) sits at $2,534, creating a positive spread of $136 per month for voucher holders. The median home value is $247,376, with a median 2BR sale price of $293,307, suggesting reasonable entry costs. However, properties move relatively slowly, with a median of 42 days on market, indicating buyers have leverage and sellers must be patient.
The tenant base is substantial, with 76.5% of households renting and a median household income of $60,966. This income level aligns well with the 2BR payment standard, suggesting that even non-voucher tenants may comfortably afford market rates without severe cost burden. The neighborhood offers solid amenities, including access to the 6 subway line for commuting and highly rated public schools like P.S. 106, which enhances long-term desirability for families seeking stability.
The Section 8 verdict for 10462 leans heavily toward cash flow and stability rather than rapid appreciation. The $136 premium over market rent guarantees a higher yield than standard leasing, and the high renter share ensures a deep pool of prospective tenants. Given the 42-day days-on-market metric for sales, investors should prioritize immediate income over speculative flipping, as the reliable HUD payments and dense employment base provide a defensive investment profile in a high-demand borough.
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.