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 | $3,120 |
| 1 Bedroom | $3,280 |
| 2 Bedrooms | $3,570 |
| 3 Bedrooms | $4,520 |
| 4 Bedrooms | $4,950 |
| 5 Bedrooms | $5,742 |
| 6 Bedrooms | $6,431 |
| 7 Bedrooms | $6,945 |
| 8 Bedrooms | $7,292 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,280 | $354,787 | 0.92% | C |
| 2BR | $3,570 | $506,030 | 0.71% | D |
| 3BR | $4,520 | $662,364 | 0.68% | D |
| 4BR | $4,950 | $807,523 | 0.61% | D |
| 5BR | $5,742 | $899,308 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 10954, located in Nanuet, NY, within the New York, NY HUD Metro FMR Area, is best suited as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) of $3,630 for the fiscal year 2024 and the current market rent of $3,172. The difference indicates that landlords can potentially charge more for their rental properties under Section 8 without significantly undercutting the local market rates, thereby ensuring steady cash flow.
The median home value in ZIP 10954 is $625,973, which is relatively high compared to other areas in the region. However, this does not directly impact the rental market dynamics. The key factor here is the substantial cushion provided by the higher FMR relative to the market rent. This allows landlords to manage their properties effectively while still receiving competitive rents through the Section 8 program.
The area's low price-cut share at 0.1% suggests that there is little need for aggressive pricing strategies to attract tenants, further supporting the cash-flow anchor role. Additionally, the lack of data for days on market (DOM) implies stability in the rental market, reducing the risk of prolonged vacancies that could disrupt cash flow.
The renter share of 31.1% and median income of $116,332 provide context for the economic profile of the area. While these figures might suggest potential for appreciation or diversification plays, the primary focus for Section 8 landlords should be on securing reliable cash flow. ZIP 10954 offers a strong foundation for achieving this goal due to the favorable FMR conditions and stable market environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.