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 | $2,280 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,570 |
| 5 Bedrooms | $4,141 |
| 6 Bedrooms | $4,638 |
| 7 Bedrooms | $5,009 |
| 8 Bedrooms | $5,259 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,620 | $645,127 | 0.41% | F |
| 3BR | $3,280 | $687,916 | 0.48% | F |
| 4BR | $3,570 | $747,828 | 0.48% | F |
U.S. Census Bureau data (2024)
Brooklyn’s 11212 ZIP code, encompassing East Flatbush, offers a dense, urban landscape characterized by classic brownstones and multi-family apartment buildings. This neighborhood is predominantly residential with a vibrant street life, serving as a central hub for the local Caribbean-American community. The area benefits from robust transit connectivity, anchored by the New Lots Avenue subway station, which facilitates access to downtown Manhattan and surrounding Brooklyn employment centers. While specific top-rated private institutions are less concentrated here than in nearby Park Slope, the presence of major local healthcare facilities, such as NYC Health + Hospitals/Kings County, provides significant economic stability and local employment.
From a quantitative perspective, 11212 presents a wide spread between subsidized rates and free-market rents. The FY2024 HUD SAFMR for a 2-bedroom unit is set at $2,210, whereas current market rents (Zillow ZORI) sit significantly higher at $2,734, creating a gap of $524. For investors eyeing larger units, the FY2026 Fair Market Rent ladder projects a 3BR at $3,120 and a 4BR at $3,370. Median home values in the area are $662,780, with a median 2BR sale price of $620,169. Properties are moving slowly, with a median days on market of 95 days, suggesting buyers have negotiating power despite the high renter share.
The tenant base in this ZIP code is exceptionally renter-heavy at 86.8%, paired with a median household income of $41,355. This income level is generally insufficient to afford the $2,734 market rent without cost burden, driving high demand for housing assistance programs like Section 8. Families looking for housing here often rely on the extensive bus and subway network for commutes to job centers, making transit proximity a key amenity. While school ratings vary, the neighborhood’s established character and density ensure consistent demand from renters who cannot easily leave the area due to rising costs in other parts of Brooklyn.
The Section 8 verdict for 11212 leans toward stability and occupancy over immediate market-rate cash flow. Although the $524 gap between the 2BR SAFMR and market rent indicates that voucher payments trail the open market, the high renter share and low local median income make the Housing Choice Program a critical reliable income stream. Investors should view this as a defensive play: using the steady government payments to secure occupancy in a market where median days on market linger at 95 days, rather than chasing the higher but volatile ZORI rents.
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.