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)
Located in the West Bronx, ZIP code 10452 is a dense, predominantly residential neighborhood characterized by classic pre-war walk-ups and a vibrant street culture. This area serves as a major healthcare hub for the borough, with St. Barnabas Hospital standing as a central institution and a significant local employer. The neighborhood is well-connected to Manhattan and other boroughs via the elevated IND Concourse Line, offering multiple subway options along Grand Concourse that facilitate relatively easy commutes for working professionals.
Financially, the market presents a tight spread between subsidized and private rates. The HUD SAFMR for a 2-bedroom unit is set at $2,210, while Zillow’s market rent index reports $2,149, resulting in a modest premium gap of $61 for voucher holders. Investors face a median home value of $319,065, though inventory moves relatively slowly with a median of 108 days on market. Based on these figures, voucher tenants cash-flow here, but the margin is slim rather than robust.
With a staggering 96.7% renter share and a median household income of $41,288, the tenant pool is almost entirely rental-dependent, indicating consistent, high-volume demand for affordable units. This income level is significantly below the area median, naturally driving strong interest in Housing Choice Vouchers to bridge the affordability gap. While local public schools generally show mixed ratings, the neighborhood’s excellent transit access along the Concourse remains a primary draw for renters seeking value without sacrificing connectivity.
From a Section 8 investment perspective, the strongest angle in 10452 is stability through near-total market saturation. The exceptionally high renter share suggests a tenant base that relies on leasing rather than ownership, reducing vacancy risk. Although the $61 premium over market rent is not massive, the assurance of government-backed payments in a neighborhood where the median income hovers around $41,288 provides a reliable revenue stream that mitigates economic volatility.
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.