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 | $2,390 |
| 1 Bedroom | $2,520 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,470 |
| 4 Bedrooms | $3,800 |
| 5 Bedrooms | $4,408 |
| 6 Bedrooms | $4,937 |
| 7 Bedrooms | $5,332 |
| 8 Bedrooms | $5,599 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,470 | $716,887 | 0.48% | F |
U.S. Census Bureau data (2024)
Located in the Soundview and Clason Point sections of the Bronx, ZIP code 10472 is a dense, working-class neighborhood defined by its waterfront proximity along the East River and strong transit connections. The area is characterized by a mix of pre-war walk-ups and larger brick elevators, offering a vibrant urban feel. A major local institution is the NYC Health + Hospitals/Gouverneur facility, which serves as a significant employer and community anchor, providing steady economic activity to the region.
From a financial perspective, the math for Section 8 investors presents a distinct arbitrage opportunity. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $2,620, which creates a massive spread over the Census ACS market rent of $1,463—a gap of $1,157 per month. With median home values sitting at $693,424 and properties spending a median of 54 days on market, acquisition costs are moderate relative to the city, while the potential voucher revenue significantly outpaces standard market leases.
The tenant pool here is deep, with an overwhelming 83.6% of households renting. The median household income is $41,039, indicating a population where rental assistance is often essential for affording quality housing. Families are drawn to the area for its park access and public schools, including P.S. 106, which generally serves the local community well. The presence of the Soundview Ferry also adds a valuable transit option for commuters, enhancing the neighborhood's appeal despite being further from Manhattan’s core.
The verdict for 10472 is a clear play on cash flow and stability. The $1,157 premium between the 2BR FMR and market rent allows investors to achieve high yields that are difficult to find in other boroughs. Combined with the high renter share and local amenities, this ZIP offers a robust environment for voucher holders seeking long-term housing, ensuring reliable occupancy for landlords.
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.