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Old 05-03-2018, 04:08 PM
 
782 posts, read 524,513 times
Reputation: 467

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Quote:
Originally Posted by bluedog2 View Post
Yes,but the woman cited in this article, whose rent went up by $400 in two years, didn't occupy one of those new renovated apartments that real estate blogs like to use in citing high rents around the city. Her rent increase was quite real and she got priced out.

$2,000/mo for a plain old 2 br in Highbridge is pretty scary.
It was probably 800/mo 10 years ago and 1200/mo 5 years ago.
Yep, not saying there isn't some actual reporting in the article so the additional detail could be good. Though if the writers are using flawed data to begin with, probably worth questioning the overall reporting. That's the way I view things at least. I'm very fact and data-oriented.

I wonder what are the current section 8 rents for 2-bedrooms?
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Old 05-03-2018, 04:08 PM
 
Location: Northeast states
14,022 posts, read 13,842,203 times
Reputation: 5168
Quote:
Originally Posted by bluedog2 View Post
Yes,but the woman cited in this article, whose rent went up by $400 in two years, didn't occupy one of those new renovated apartments that real estate blogs like to use in citing high rents around the city. Her rent increase was quite real and she got priced out.

$2,000/mo for a plain old 2 br in Highbridge is pretty scary.
It was probably 800/mo 10 years ago and 1200/mo 5 years ago.

This Brownsville, Brooklyn

https://www.zillow.com/homes/for_ren...46_rect/13_zm/
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Old 05-03-2018, 05:56 PM
 
782 posts, read 524,513 times
Reputation: 467
I tried looking up section 8 voucher rates but I don't really know how it works and if there are any adjustments to the numbers I found. The links are below. I also remember reading somewhere a while back that if the landlords charge higher rents than the voucher allowance, then the families can simply pay the difference. I don't remember where I read that though.

On the NYC.gov website, it says the voucher payment standards as of Jan 1, 2018 are as follows:
$1590 for studios, $1636 for 1-br, $1878 for 2-br.
http://www1.nyc.gov/assets/nycha/dow...ov-Version.pdf

On the HUD website, it says the fair market rents (FMR) for NYC are as follows (I selected New York, NY HUD Metro FMR area in link):
FY2018: $1514 for studio, $1588 for 1-br, $1789 for 2-br
FY2017: $1352 for studio, $1419 for 1-br, $1637 for 2-br
https://www.huduser.gov/portal/datas..._Geography.odn

Here's the FMR history on the HUD website for NYC (I selected Bronx county but rents appear to be the same for all boroughs):
2012: $1183 for studio, $1280 for 1-br, $1424 for 2-br
2008: $1095 for studio, $1185 for 1-br, $1318 for 2-br
https://www.huduser.gov/portal/datas..._choice=county
https://www.huduser.gov/portal/datas..._Geography.odn
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Old 05-03-2018, 06:01 PM
 
Location: New York, NY
12,751 posts, read 8,223,604 times
Reputation: 7054
Quote:
Originally Posted by MC305 View Post
I tried looking up section 8 voucher rates but I don't really know how it works and if there are any adjustments to the numbers I found. The links are below. I also remember reading somewhere a while back that if the landlords charge higher rents than the voucher allowance, then the families can simply pay the difference. I don't remember where I read that though.

On the NYC.gov website, it says the voucher payment standards as of Jan 1, 2018 are as follows:
$1590 for studios, $1636 for 1-br, $1878 for 2-br.
http://www1.nyc.gov/assets/nycha/dow...ov-Version.pdf

On the HUD website, it says the fair market rents (FMR) for NYC are as follows (I selected New York, NY HUD Metro FMR area in link):
FY2018: $1514 for studio, $1588 for 1-br, $1789 for 2-br
FY2017: $1352 for studio, $1419 for 1-br, $1637 for 2-br
https://www.huduser.gov/portal/datas..._Geography.odn

Here's the FMR history on the HUD website for NYC (I selected Bronx county but rents appear to be the same for all boroughs):
2012: $1183 for studio, $1280 for 1-br, $1424 for 2-br
2008: $1095 for studio, $1185 for 1-br, $1318 for 2-br
https://www.huduser.gov/portal/datas..._choice=county
https://www.huduser.gov/portal/datas..._Geography.odn
Wow they're paying market rate rents on our dime... Smh
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Old 05-03-2018, 06:18 PM
 
11,445 posts, read 10,430,033 times
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Quote:
Originally Posted by pierrepont7731 View Post
Wow they're paying market rate rents on our dime... Smh
Those vouchers are even higher than the price floor!
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Old 05-03-2018, 06:23 PM
 
Location: Northeast states
14,022 posts, read 13,842,203 times
Reputation: 5168
Real estate is booming in The Bronx so come the rent prices with Manhattan and Brooklyn residents. I advice everyone to invest in properties in 5 years you can get $500,000 profit. Brownstones in Brooklyn and Harlem for etc cost 2 million use to be $300,000.
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Old 05-03-2018, 06:34 PM
 
Location: Beautiful Pelham Parkway,The Bronx
9,243 posts, read 24,025,338 times
Reputation: 7757
Quote:
Originally Posted by MC305 View Post
I tried looking up section 8 voucher rates but I don't really know how it works and if there are any adjustments to the numbers I found. The links are below. I also remember reading somewhere a while back that if the landlords charge higher rents than the voucher allowance, then the families can simply pay the difference. I don't remember where I read that though.

On the NYC.gov website, it says the voucher payment standards as of Jan 1, 2018 are as follows:
$1590 for studios, $1636 for 1-br, $1878 for 2-br.
http://www1.nyc.gov/assets/nycha/dow...ov-Version.pdf

On the HUD website, it says the fair market rents (FMR) for NYC are as follows (I selected New York, NY HUD Metro FMR area in link):
FY2018: $1514 for studio, $1588 for 1-br, $1789 for 2-br
FY2017: $1352 for studio, $1419 for 1-br, $1637 for 2-br
https://www.huduser.gov/portal/datas..._Geography.odn

Here's the FMR history on the HUD website for NYC (I selected Bronx county but rents appear to be the same for all boroughs):
2012: $1183 for studio, $1280 for 1-br, $1424 for 2-br
2008: $1095 for studio, $1185 for 1-br, $1318 for 2-br
https://www.huduser.gov/portal/datas..._choice=county
https://www.huduser.gov/portal/datas..._Geography.odn
There are only about 125,000 section 8 voucher households in the entire city so section 8 payments are not what is driving rents up.

How many of those 125,000 voucher households are in The Bronx , maybe 50,000 ?
The Bronx has a population of 1.5 million and there are over 500,000 households so maybe,at most, 10% of Bronx households are occupied by section 8 voucher holders. Not a big enough percentage to drive the rental market.

Last edited by bluedog2; 05-03-2018 at 06:41 PM.. Reason: M
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Old 05-03-2018, 06:39 PM
 
766 posts, read 505,668 times
Reputation: 710
You can still get a renovated 2 bedroom in gentrifying Brooklyn for 2k. That woman’s landlord was smoking crack and obviously just raised the rent in her dramatically to get her out
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Old 05-03-2018, 06:39 PM
 
Location: New York, NY
12,751 posts, read 8,223,604 times
Reputation: 7054
Quote:
Originally Posted by bluedog2 View Post
There are only about 125,000 section 8 voucher households in the entire city so section 8 payments are not what is driving rents up.
That's still far too many and the vouchers are too damn high. Just imagine someone paying $1600 or $1700 a month for a studio, and some person that doesn't work getting a voucher for around that.
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Old 05-03-2018, 06:44 PM
 
782 posts, read 524,513 times
Reputation: 467
Quote:
Originally Posted by bluedog2 View Post
There are only about 125,000 section 8 voucher households in the entire city so section 8 payments are not what is driving rents up.

How many of those 125,000 voucher households are in The Bronx , maybe 50,000 ?
The Bronx has a population of 1.5 million and there are over 500,000 households so maybe,at most, 10% of Bronx households are occupied by section 8 voucher holders. Not a big enough percentage to drive the rental market.
Never said section 8 drives overall market rents. It does, however, provide a floor to some less desirable neighborhoods. Section 8 vouchers move with market rents.

I don't know much about Highbridge or really any of the Bronx neighborhoods. But have any of these seen an increase in section 8 households? As people get priced out of the gentrifying neighborhoods such as Harlem and Washington Heights, are some moving to the Bronx?
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