Section 8 Fair Market Rent (FMR) for ZIP 10455 - 2027

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 10455 (NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 10455, as of 2026, is set at the following rates: - 0 Bedroom: $2170 - 1 Bedroom: $2260 - 2 Bedroom: $2510 (which represents 83.4% of the median household income) - 3 Bedroom: $3120 - 4 Bedroom: $3370 Given that there is no recent Zillow data available, we cannot directly compare these FMRs to actual rental prices. However, based on the high renter percentage (90.9%) and occupancy rate (97.9%), it is likely that the actual rents are close to or slightly above these FMRs. This suggests that Section 8 voucher holders might face significant constraints in finding affordable housing, especially for larger units. The 2BR unit, which is already at 83.4% of the median income, could be particularly challenging for voucher recipients who often have limited financial resources beyond their vouchers. #### Affordability & Renter Profile ZIP code 10455 has a population of 44,801, with a median household income of $36,115. Given that 90.9% of residents are renters, the market is highly dependent on rental properties. The occupancy rate of 97.9% indicates that the market is tight, meaning there is little room for new rentals without displacing existing tenants. This tightness can lead to upward pressure on rental prices, making it difficult for low-income individuals to find affordable housing. The high renter percentage also implies that many residents are likely to be reliant on Section 8 vouchers. With the median income being relatively low, the affordability of housing becomes a critical issue. For instance, a 2BR unit at $2510 would consume over 80% of a median household’s monthly income, leaving very little for other necessities such as food, healthcare, and transportation. #### Investor Angle From an investor perspective, the cash flow potential at the FMR levels must be evaluated against the local rental market conditions. Since the occupancy rate is very high (97.9%), it is reasonable to assume that the demand for rental units is strong. However, the lack of recent Zillow data makes it difficult to assess whether the actual rents are significantly higher than the FMRs. Assuming that the actual rents are near the FMRs, the cash flow for investors would be positive but modest. For example, a 2BR unit at $2510 would provide a decent return if the property management costs and mortgage payments are lower. However, given the high renter percentage and the tight market, there is a risk of vacancies if the rents are set too high, potentially leading to lower returns. In terms of investment grade, ZIP code 10455 appears to be a moderate-risk investment. While the strong demand for rental units supports the idea of a stable market, the reliance on Section 8 vouchers introduces additional administrative complexities and potential risks related to government funding and regulations. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high renter percentage and the tight market, smaller units (0BR and 1BR) are likely to be easier to lease. These units are also more affordable for voucher holders, with the 1BR unit costing $2260, which is still manageable at 83.4% of the median income. 2. **Consider Property Management Costs**: Investors should carefully consider the cost of property management when evaluating potential returns. High property management fees could eat into the modest cash flows derived from renting at FMR levels. 3. **Monitor Government Funding**: Section 8 vouchers are heavily reliant on government funding. Investors should keep a close eye on any changes in federal or state budgets that could impact the availability and value of these vouchers. #### Bottom Line For Section 8-focused investors, ZIP code 10455 presents a mixed picture. On one hand, the strong demand for rental units and high occupancy rates suggest a stable market. On the other hand, the high renter percentage and the tight market dynamics imply that finding affordable housing is challenging, especially for larger units. **Recommendation**: **Hold**. The market is stable, but the potential for modest cash flows and the administrative complexities associated with Section 8 vouchers make it advisable for investors to hold their current positions rather than aggressively expand into this area. Careful monitoring of government funding and local rental market trends is essential for maintaining profitability.

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.