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 | $2,430 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $2,780 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $3,860 |
| 5 Bedrooms | $4,478 |
| 6 Bedrooms | $5,015 |
| 7 Bedrooms | $5,416 |
| 8 Bedrooms | $5,687 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,550 | $242,005 | 1.05% | B |
| 2BR | $2,780 | $317,028 | 0.88% | C |
| 3BR | $3,520 | $711,690 | 0.49% | F |
| 4BR | $3,860 | $754,433 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP code 10467, encompassing the Williamsbridge and Norwood neighborhoods in the Bronx, is a densely populated, urban residential area characterized by pre-war apartment buildings and Art Deco co-ops. It serves as a vital residential hub for working-class New Yorkers, with a heavy reliance on public transit and local retail corridors. The neighborhood is notably anchored by the sprawling Montefiore Medical Center’s Moses Division, which stands as a major institutional employer and a consistent source of economic stability and tenant demand for the area.
From a financial perspective, the data presents a specific pricing dynamic. The HUD SAFMR for a 2-bedroom unit in FY2024 is $2,560, while the projected FY2026 Full FMR for the same unit size rises to $2,730. Current market rents (Zillow ZORI) sit slightly higher at $2,630, creating a narrow gap of $70 per month between the subsidy cap and the market rate. Median home values are approximately $423,600, with median 2-bedroom sales at $304,790. Properties move relatively slowly here, with a median of 99 days on market. Based on these figures, voucher tenants effectively cover the market rate, though investors should watch the SAFMR cap closely against the $2,630 market benchmark.
Demand fundamentals are robust due to an exceptionally high renter share of 85.8%. However, the median household income is $49,330, meaning many residents are cost-burdened and likely to qualify for housing assistance. This income constraint amplifies the utility of Section 8 vouchers, as a significant portion of the tenant pool requires subsidies to afford housing at the $2,500+ level. The neighborhood offers solid infrastructure for families, including access to the D and 4 subway lines and local parks, supporting long-term tenant retention.
The strongest investor angle in 10467 is stability through cash flow alignment. Because the FY2026 FMR ($2,730) is projected to exceed the current market rent ($2,630), vouchers will likely cover the full cost of a 2-bedroom unit while insulating the landlord from the income limitations of the local population. While appreciation may be tempered by the 99-day days-on-market metric, the high renter concentration and medical center proximity ensure consistent occupancy. For small-portfolio investors, this is a play on reliable, government-backed income rather than speculative appreciation.
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.