Section 8 Fair Market Rent (FMR) for ZIP 10453 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Located in the central Bronx, ZIP code 10453 covers the Mount Eden and Mount Hope neighborhoods, characterized by a dense urban landscape dominated by pre-war walk-ups and Art Deco architecture. The area is heavily influenced by the presence of the Bronx-Lebanon Hospital Center, a major local institution and one of the largest employers in the borough, which provides a stable economic base despite the broader income challenges. The neighborhood offers excellent transit connectivity via the Grand Concourse, which hosts the B and D subway lines, offering rapid access to Manhattan.

From a numerical standpoint, the HUD Fair Market Rent (FMR) for a 2-bedroom unit is set at $2,250, while current market rents (Zillow ZORI) reach $2,487. This results in a modest gap of $237 per month where market rates exceed the voucher cap. For investors looking at acquisition, the median home value sits at $574,685, with properties taking a median of 65 days to sell, indicating a relatively deliberate pace of turnover. The financial spread is tight here; voucher tenants generally do not offer a premium over market tenants, and in some cases, the HUD cap lags behind the street rate.

The tenant profile is defined by a massive 95.2% renter share and a median household income of $33,186. This income level is significantly below the area's cost of living, creating a structural reliance on rental assistance programs. Consequently, demand for Housing Choice Vouchers is high. The neighborhood serves families with access to local schools such as P.S. 79, and while the area faces urban challenges, the density of transit options along the Grand Concourse remains a strong draw for commuters working in the city center.

The Section 8 verdict for 10453 is a play on stability rather than aggressive cash-flow or appreciation. With a renter share nearing 96%, this is a true rental market where ownership is rare, ensuring a constantly renewing pool of tenants. The strongest angle is the consistent demand driven by low local incomes relative to market rents, paired with the employment anchor of the Bronx-Lebanon Hospital Center. While the $237 negative gap between FMR and market rent requires careful underwriting, the high density and public transit access provide a defensive quality to the investment.

• Bronx-Lebanon Hospital Center
• NYC Department of City Planning - PLUTO Data

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.