Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,900 |
| 1 Bedroom | $3,050 |
| 2 Bedrooms | $3,320 |
| 3 Bedrooms | $4,200 |
| 4 Bedrooms | $4,600 |
| 5 Bedrooms | $5,336 |
| 6 Bedrooms | $5,976 |
| 7 Bedrooms | $6,454 |
| 8 Bedrooms | $6,777 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,050 | $445,202 | 0.69% | D |
| 2BR | $3,320 | $677,915 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 11104 is situated in the vibrant and diverse neighborhood of Bayside, Queens, New York, NY. With a population of 26,132, it's a residential area where the majority, 79.6%, are renters. The median household income in this area stands at $80,709, indicating a middle-class community. The median home value in Bayside is $536,337, reflecting the typical cost of homeownership in the region.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 11104 as of the fiscal year 2024 is set at $3,090. This figure is notably higher than the market rent, which is currently estimated at $2,786 (ZORI). This difference suggests that landlords participating in the Section 8 program can expect to receive slightly above-market rents, which could be advantageous given the high percentage of renters in the area.
For hands-off voucher operators, Bayside presents an opportunity due to the high proportion of renters and the fact that FMR exceeds market rent. However, the presence of a relatively affluent population might also attract hands-on value-add buyers who see potential in improving properties to command higher rents, especially considering the median income levels. These buyers might seek to enhance property values beyond the current median home value, taking advantage of the strong demand for housing in the area.
In summary, ZIP 11104 offers a mix of steady income through Section 8 participation and opportunities for增值投资。对于寻求稳定回报的房东来说，这是一个理想的选择，而对于希望提升房产价值以获得更高租金收入的小型投资者而言，同样具有吸引力。
请注意，尽管有这些机会，但投资者也应考虑与Section 8计划相关的管理挑战，包括租户筛选和合规性要求。总体而言，Bayside为不同类型的投资策略提供了良好的基础。
由于原文要求使用英文写作，最后两段将转换为英文：
For hands-off landlords seeking steady returns, this ZIP code is ideal. For smaller portfolio investors looking to enhance property values and command higher rents, there are opportunities here as well.
Note that alongside these opportunities, investors should consider the management challenges associated with the Section 8 program, including tenant screening and compliance requirements. Overall, Bayside provides a solid foundation for various investment strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.