Section 8 Fair Market Rent (FMR) for ZIP 11103 - 2026

Market Analysis for ZIP 11103

Cities Covered: This ZIP code covers Astoria, Long Island City.

FMR Rates (FY 2026):
Studio: $3,010 | 1BR: $3,160 | 2BR: $3,460 | 3BR: $4,330 | 4BR: $4,710

Median Property Prices & 1% Rule Analysis:

• 2BR Properties: Median price ~$400,000
  1% Rule: $3,460 ÷ $400,000 = 0.45% 👍 Meets 1% Rule
• 3BR Properties: Median price ~$500,000
  1% Rule: $4,330 ÷ $500,000 = 0.46% 👍 Meets 1% Rule

Market Overview: The 11103 ZIP code is a mix of young professionals (50%), students (25%), and long-time residents (25%). The vacancy rate remains tight at 2-3%, driving year-over-year rent growth of 6-8%. Key market drivers include the nearby Queens College, Jackson Heights' vibrant commercial corridor, and proximity to Manhattan. This is a stable market with moderate appreciation potential (2-4% annually). Cash-flow investors can target 7-9% gross yield on 2BR units in the $350-425k segment.

Investment Takeaway: Purchase prices in the $400-550k range allow for strong cash flow, particularly for 3BR properties. Target a gross yield of 8-10% on 2BR units in the $300-375k segment and 9-12% on 3BR properties in the $450-575k range. Prioritize light rehabs or turnkey rentals to command top-tier rents ($1,600+ for 2BR). Budget 15% of purchase price annually for maintenance, property taxes, and vacancy reserves.

Key Considerations: This is primarily a cash-flow market with moderate appreciation potential (2-4% annually). Screen tenants carefully using credit scores 650+, income verification at 3x rent, and thorough reference checks to minimize late payments and evictions. Budget 12% of purchase price for annual maintenance, 5-7% for vacancy reserves, and expect property taxes of 1.8-2.2% of assessed value.