Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,280 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,570 |
| 5 Bedrooms | $4,141 |
| 6 Bedrooms | $4,638 |
| 7 Bedrooms | $5,009 |
| 8 Bedrooms | $5,259 |
U.S. Census Bureau data (2024)
ZIP 10474 in New York, NY, fits best as a cash-flow anchor within a Section 8 portfolio strategy. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) and the actual market rent in the area. For fiscal year 2024, the FMR for ZIP 10474 is set at $2210, whereas the market rent stands at $1387. This discrepancy means that landlords participating in the Section 8 program can expect higher rental income compared to what they might receive from market-rate tenants.
The higher FMR ensures steady cash flow, which is crucial for maintaining financial stability within an investment portfolio. Since the median home value is not available, focusing on rental properties through the Section 8 program provides a reliable source of income without the unpredictability associated with homeownership in this area.
While the appreciation potential is listed as N/A, indicating limited data on property value increases and days on market (DOM), the high percentage of renters—89.8%—suggests a strong demand for rental housing. This high renter share supports the idea that ZIP 10474 is an ideal location for anchoring cash flow, as there is a consistent need for affordable rental units.
The median income of $41,586 further justifies the inclusion of ZIP 10474 as a cash-flow anchor. Given the relatively low median income, many residents will qualify for Section 8 assistance, ensuring a stable tenant pool that can reliably pay rent through government subsidies.
In conclusion, ZIP 10474 serves as a solid foundation for generating predictable and steady cash flow within a Section 8 portfolio. The substantial difference between the FMR and market rent, coupled with a high percentage of renters and a median income level that aligns well with Section 8 qualifications, makes this area an excellent choice for landlords looking to secure long-term financial stability.
Data Sources: FMR data from HUD (2027). 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.