Section 8 Fair Market Rent (FMR) for ZIP 11222 - 2027

Investment Score for ZIP 11222

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$3,670
1 Bedroom	$3,870
2 Bedrooms	$4,210
3 Bedrooms	$5,330
4 Bedrooms	$5,840
5 Bedrooms	$6,774
6 Bedrooms	$7,587
7 Bedrooms	$8,194
8 Bedrooms	$8,604

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$3,870	$959,696	0.4%	F
2BR	$4,210	$1,542,296	0.27%	F
3BR	$5,330	$2,284,110	0.23%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 11222 (New York, NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 11222 is set by HUD for 2026. The FMRs for various bedroom types are as follows: - 0BR: $3460 - 1BR: $3630 - 2BR: $3980 (which is 38.0% of the median household income) - 3BR: $4980 - 4BR: $5420 These figures represent the maximum rent that a Section 8 voucher holder can pay. However, comparing these to actual rents in the area reveals significant discrepancies. For instance, the Zillow median price for a 2BR property is $1,508,135. This translates to a price-to-FMR ratio of 31.6x, indicating that actual rents are much higher than the FMRs. Given the high cost of living in this area, voucher holders face substantial constraints. They would likely struggle to find properties that accept Section 8 vouchers and fall within their budget. The average rent for a 2BR unit in 11222 is approximately $3980, which is already close to the FMR limit but still far below the median home value. #### Affordability & Renter Profile ZIP code 11222 has a population of 42,853, with 81.9% being renters. This suggests a strong rental market where the majority of residents are looking for affordable housing options. The occupancy rate stands at 93.1%, indicating a tight market with limited availability. The median household income in the area is $125,734, which means that the average renter can afford to pay up to $47,779 annually (38.0% of median income). However, the FMR for a 2BR unit is only $3980 per month, or $47,760 annually. This shows that while the median income is relatively high, the FMR is set quite low, making it challenging for voucher holders to find suitable housing. The high price-to-FMR ratio also implies that the market is extremely tight and oversupplied with expensive units relative to the FMR. Most landlords might prefer tenants who can pay higher rents, leading to a scarcity of affordable units for Section 8 voucher holders. #### Investor Angle From an investor perspective, the ZIP code 11222 presents both opportunities and challenges. While the median home values are exceptionally high, the FMRs are significantly lower. An investor looking to target Section 8 voucher holders would need to ensure that their rental properties fall within the FMR limits. However, given the high median home values, the potential for cash flow positive investments at FMR is limited. The average rent for a 2BR unit is $3980, which is just slightly above the FMR but still far below the median home value. This suggests that investors would need to focus on properties that are priced closer to the FMR to achieve positive cash flow. The investment grade for this ZIP code is likely to be low due to the high costs associated with acquiring and maintaining properties. Additionally, the tight rental market and the scarcity of affordable units mean that finding tenants who can utilize Section 8 vouchers might be difficult. #### Specific Actionable Insights 1. **Focus on Lower-Rent Properties**: Investors should focus on acquiring properties that are priced closer to the FMR limits. For example, a 2BR unit priced at $3980 per month would be ideal for attracting Section 8 voucher holders. This would require careful selection of properties, possibly in less desirable locations within the ZIP code. 2. **Consider Multi-Family Buildings**: Given the high median home values, single-family homes are likely to be out of reach for most Section 8 voucher holders. Instead, multi-family buildings with smaller units (like studios or 1BRs) might offer better opportunities. These units are typically more affordable and could be rented out at rates closer to the FMR. 3. **Negotiate with Landlords**: In a tight rental market, negotiating with existing landlords to accept Section 8 vouchers might be necessary. Offering incentives such as guaranteed rent payments or assistance with property management could make the difference in securing tenants with vouchers. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 11222 is to **Skip**. The high median home values and tight rental market make it challenging to find properties that are both affordable and cash-flow positive. The price-to-FMR ratio of 31.6x indicates that the market is heavily skewed towards expensive units, leaving little room for affordable rentals that align with Section 8 voucher limits. Investors seeking to enter this market should consider other ZIP codes with more favorable conditions for Section 8 properties.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.