Section 8 Fair Market Rent (FMR) for ZIP 10460 - 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 10460 (Bronx, NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 10460, as of 2026, are as follows: - 0BR: $2170 - 1BR: $2260 - 2BR: $2510 (83.0% of median income) - 3BR: $3120 - 4BR: $3370 Given that there is no recent Zillow data available, we must rely on these FMR figures to understand the rental market dynamics. The FMRs represent the maximum amount that a Section 8 voucher holder can pay for rent, which is crucial for understanding the constraints faced by voucher holders. In a highly rented area like ZIP 10460, where 90.6% of households are renters, it is likely that actual rents may be close to or even slightly above these FMRs, especially given the high occupancy rate of 93.7%. This suggests that the market is relatively tight, and voucher holders might face challenges finding units that fit within their budget. #### Affordability & Renter Profile ZIP 10460 has a median household income of $36,309, indicating that the majority of residents have limited financial resources. With 90.6% of households being renters, the demand for affordable housing is significant. The 2BR unit FMR of $2510 represents 83.0% of the median income, which is quite high. This implies that most residents are spending a substantial portion of their income on rent, leaving little room for other expenses. Given the high renter percentage and the relatively low median income, it is reasonable to conclude that this is a tight market with limited supply relative to demand. #### Investor Angle From an investor’s perspective, the key question is whether properties in this ZIP code can generate positive cash flow at the FMR levels. To assess this, we need to consider the typical operating costs, including property taxes, insurance, maintenance, and management fees. Without specific cost data, we can make some general assumptions based on typical expenses in the Bronx. Property taxes in the Bronx average around $7,000 per year for a single-family home, while insurance costs can range from $500 to $1,000 annually. Maintenance and management fees typically run between 10% to 15% of the gross rental income. Let's break down the potential cash flow for a 2BR unit at $2510 per month: - Annual Rent: $2510 * 12 = $30,120 - Property Taxes: $7,000 - Insurance: $1,000 - Maintenance/Management: 10% of $30,120 = $3,012 Total Operating Costs: $7,000 + $1,000 + $3,012 = $11,012 Net Cash Flow: $30,120 - $11,012 = $19,108 This indicates that a 2BR unit could potentially generate positive cash flow, assuming the property is priced reasonably and the investor can manage costs effectively. However, the high renter percentage and tight market suggest that competition for tenants is fierce, and landlords must ensure they offer competitive amenities and maintain good property conditions to attract and retain tenants. #### Specific Actionable Insights 1. **Focus on 2BR Units**: Given that the 2BR FMR is 83.0% of the median income, these units are likely to be in high demand among voucher holders. Investing in properties that can be converted into 2BR units or purchasing existing 2BR properties could provide a steady stream of income. 2. **Consider Cost Management**: Since operating costs can significantly impact cash flow, investors should focus on managing these costs effectively. This includes negotiating lower property tax assessments, securing affordable insurance policies, and possibly hiring a professional property manager who can help reduce maintenance costs through efficient scheduling and prioritization. 3. **Understand Tenant Needs**: Given the high renter percentage and the fact that many residents are likely to be relying on Section 8 vouchers, it is essential to understand the specific needs and preferences of these tenants. Offering basic amenities such as laundry facilities, parking, and security features can help attract and retain tenants in a competitive market. #### Bottom Line Based on the provided data, ZIP code 10460 presents a mixed picture for Section 8-focused investors. While the high renter percentage and occupancy rate indicate strong demand, the relatively low median income and high FMR percentages suggest that tenants will be spending a large portion of their income on rent. **Recommendation**: **Hold** The recommendation to hold is based on the following considerations: - The market appears to be tight, with high occupancy rates and a significant proportion of renters. - Positive cash flow is possible but depends heavily on effective cost management. - The lack of recent Zillow data makes it difficult to assess the current rental market trends accurately. Investors should proceed cautiously and focus on properties that can be managed efficiently to maximize cash flow. Additionally, understanding the local tenant demographics and their specific needs will be critical for success in this market.

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.