Queens County • 6 ZIP Codes
Jamaica, NY, sits in the heart of Queens with a 2025 population of 115,000, an 1.2% annual growth rate, and a median household income of $72,000. The renter base is predominantly young professionals (28%) and families (35%), driven by proximity to major transit hubs (NYC Subway, Long Island Rail Road) and a growing tech corridor in nearby Long Island City. Key employment sectors include logistics (30% of local jobs), retail, and healthcare, supported by the nearby Flushing Meadow Mall and North Shore Medical Center. Vacancy rates have stabilized at 4.1% in FY 2026, down from 5.3% in FY 2025, reflecting a tight rental market. Year-over-year rent growth averaged 7.8% across the borough, with studio and 1BR units seeing 8.5% increases. The overall market remains resilient, with a healthy balance of rental demand and new construction, making Jamaica an attractive location for long-term investors seeking steady cash flow and moderate appreciation.
Single‑family homes in Jamaica command purchase prices between $350,000 and $600,000, while 2–4‑bedroom multifamily complexes range from $1.2 million to $2.5 million. With Section 8 FMR rates averaging $2,613 for 1BR and $3,598 for 3BR units, investors can expect gross yields of 6.5%–7.5% after operating expenses. Cash‑flow projections suggest a 60% cash‑on‑cash return in the first year, with appreciation contributing an additional 1.2% annually. The most lucrative ZIP codes are 11430 and 11432, which offer higher rent multiples and lower vacancy rates (3.8% and 4.0% respectively). Target properties include 2BR multifamily buildings with 4–6 units and 3BR single‑family homes. Recommended strategies: turnkey acquisitions for immediate cash flow, and rehab projects in 11433–11436 where renovation costs are lower and upside is higher. A disciplined acquisition budget of 70% loan-to-value and a 10% contingency reserve will mitigate risk while preserving equity.
Neighborhoods vary: 11430 (East Jamaica) has higher walkability, while 11436 (South Jamaica) offers more industrial space. Tenant screening should focus on proof of income, credit scores above 650, and a Section 8 verification process to maintain compliance. Property management costs average 8.5% of gross rent, with an additional 1.5% for maintenance. A maintenance reserve of $1,200 per unit per year is advisable. Risk factors include potential rent cap changes and neighborhood revitalization projects that may temporarily depress rents. Long‑term appreciation is projected at 3.5%–4.0% annually, driven by continued infrastructure upgrades and demographic shifts toward higher income households.