Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,460 |
| 1 Bedroom | $2,590 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,570 |
| 4 Bedrooms | $3,910 |
| 5 Bedrooms | $4,536 |
| 6 Bedrooms | $5,080 |
| 7 Bedrooms | $5,486 |
| 8 Bedrooms | $5,760 |
U.S. Census Bureau data (2024)
ZIP code 11219 covers the Borough Park neighborhood in Brooklyn, a dense, primarily residential area known for its tight-knit communities, vibrant commercial corridors, and significant population of Orthodox Jewish families. The neighborhood features a high concentration of multi-family housing and maintains a busy, urban character with strong local retail and institutional anchors. One major institution shaping the local landscape and economy is Maimonides Medical Center, a large teaching hospital and one of Brooklyn's largest employers, which provides a steady stream of medical professionals and support staff seeking nearby housing.
From an investment standpoint, the math presents a clear spread between government subsidies and private market pricing. The HUD Fair Market Rent (FMR) for a 2-bedroom unit stands at $2,680, while current market rents (Zillow ZORI) sit at $2,338. This creates a potential premium of $342 per month for voucher holders, suggesting that accepting Section 8 can outperform standard market leasing in the immediate term. However, the high cost of entry is evident in the median home value of $1,224,663 and a median 2BR sale price of $716,706. With properties sitting on the market for a median of 116 days, investors must be prepared for a longer holding period to realize capital appreciation.
The tenant pool is deep, with 75.0% of the population renting, far exceeding the national average. The area’s median household income is $58,347, indicating that a large portion of the workforce may qualify for rental assistance or require affordable housing options. Demand is further bolstered by the neighborhood’s accessibility; the area is served by multiple subway lines including the D, F, and G trains, facilitating commutes across the borough and into Manhattan. Additionally, the presence of well-regarded local yeshivas and public schools adds to the location’s stability for families looking to settle long-term.
The Section 8 verdict for 11219 leans heavily toward cash flow over appreciation. With the HUD 2BR FMR exceeding the Zillow market rent by $342, investors can secure a rate above current market levels, while the massive median home value suggests that pure appreciation plays may be slower compared to entry-level markets. The high renter share and proximity to major employers like Maimonides Medical Center provide a safety net for vacancy, making this a solid play for income-focused investors who can manage the high acquisition cost.
Data Sources: FMR data from HUD (2027). 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.