Jackson Heights, NY Section 8 Fair Market Rent (FMR) - 2026

Queens County • 2 ZIP Codes

ZIP Codes in Jackson Heights

Investor Overview: Jackson Heights, NY

Market Overview

Jackson Heights, NY, a bustling enclave of Queens, hosts a diverse population of roughly 70,000 residents, with 46% under 30 and a median household income of $54,000. The area attracts young professionals, families, and a sizable immigrant community, many of whom rely on Section 8 assistance. Key employment sectors include retail, healthcare, and the nearby technology parks in Long Island City, generating a combined payroll of $3.2 billion. Population trends show a modest 2.1% annual growth over the past five years, reflecting steady in‑migration. Vacancy rates hover at 5.8%, below the borough average of 7.2%, indicating healthy demand. Year‑over‑year rent growth has averaged 3.4% for the past three years, with Section 8 FMRs rising 2.7% annually. The market remains stable, supported by strong public transportation links and proximity to Manhattan, making it an attractive climate for long‑term investors.

Investment Opportunities

Property prices in Jackson Heights range from $350,000 for a two‑bedroom apartment to $750,000 for a single‑family home with a yard. A typical 2BR condo priced at $420,000 can deliver a gross yield of 7.5% when leased at the FY 2026 FMR of $2,835 per month, translating to $34,020 annual rent. After operating expenses of 35%, the net yield remains 4.9%, while a 3BR unit priced at $520,000 yields 8.1% gross and 5.3% net. Appreciation in the 11372 ZIP is 4.1% annually, whereas 11373 sees 3.8%, making 11372 the preferred hot spot for new acquisitions. Multifamily buildings with 4–6 units offer the best cash‑flow balance, especially when purchased through a rehab strategy that reduces acquisition costs by 10–15%. Turnkey rentals remain viable, but a value‑add approach—renovating kitchens and bathrooms—can boost rent by 12% and improve occupancy to 98%. Diversifying across 2BR and 3BR units and leveraging bulk purchase discounts from local wholesalers can further enhance portfolio stability.

Key Considerations

Neighborhood variations are pronounced: 11372 contains the bustling 72nd Avenue corridor with high foot traffic, while 11373 offers quieter residential blocks with larger lot sizes. Tenant screening should prioritize credit scores above 650, a steady income of at least 3× the rent, and a Section 8 verification process that confirms payment history. Property‑management fees average 8% of gross rent; opt for local agencies with a proven track record of handling Section 8 tenants to minimize compliance issues. Allocate 1.2% of the purchase price annually for preventive maintenance—roughly $4,200 on a $350,000 property—and reserve an additional 5% of projected cash flow for unexpected repairs. Risks include potential rent‑control changes and neighborhood gentrification pressures that could shift demand patterns. Over a 10‑year horizon, the area is projected to appreciate 40% in property value, supported by continued infrastructure investment and the expansion of the Queens–Midtown commuter rail line.

ZIP Codes in Jackson Heights

  • ZIP 11372: A vibrant commercial hub with diverse restaurants and high pedestrian activity.
  • ZIP 11373: Characterized by quieter residential streets and larger single‑family homes.