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 | $2,530 |
| 1 Bedroom | $2,660 |
| 2 Bedrooms | $2,900 |
| 3 Bedrooms | $3,670 |
| 4 Bedrooms | $4,020 |
| 5 Bedrooms | $4,663 |
| 6 Bedrooms | $5,223 |
| 7 Bedrooms | $5,641 |
| 8 Bedrooms | $5,923 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,670 | $795,274 | 0.46% | F |
| 4BR | $4,020 | $846,995 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP code 11428, located in the New York, NY HUD Metro FMR Area, serves as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for this area in fiscal year 2024 is set at $2560, which is significantly higher than the current market rent of $1947. This spread indicates that properties in this ZIP code can be rented out at rates above the market average when participating in the Section 8 program, thus providing a stable and reliable source of cash flow.
The median home value in ZIP 11428 is $767,488, reflecting a substantial investment in property assets. However, the primary focus for Section 8 landlords should be on the rental income rather than the potential for property appreciation. The data does not provide specific percentages for price-cut shares or days on market (DOM), suggesting that appreciation plays are not a strong factor in this ZIP code's real estate strategy.
While the ZIP code has a renter share of 26.6%, this statistic alone does not necessarily make it a diversification target. The median income of $91,296 suggests a relatively affluent population, but the key consideration here is the guaranteed rental income through the Section 8 program. Landlords can expect consistent payments directly from the government, mitigating the risk associated with tenant defaults or delinquencies.
In conclusion, ZIP 11428 is best suited as a cash-flow anchor due to the positive spread between the FMR and market rent, ensuring that landlords receive higher-than-average rental income. This stability is crucial for maintaining a robust and predictable revenue stream within a Section 8 portfolio strategy.
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.