Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,500 |
| 1 Bedroom | $2,640 |
| 2 Bedrooms | $2,870 |
| 3 Bedrooms | $3,630 |
| 4 Bedrooms | $3,980 |
| 5 Bedrooms | $4,617 |
| 6 Bedrooms | $5,171 |
| 7 Bedrooms | $5,585 |
| 8 Bedrooms | $5,864 |
U.S. Census Bureau data (2024)
New York, NY 11236 encompasses the Canarsie neighborhood, a residential enclave in southeast Brooklyn situated along the shoreline of Jamaica Bay. Characterized by a mix of detached single-family homes and tidy front yards, the area offers a more suburban feel within the city limits. The neighborhood is primarily served by the MTA's L train at the terminus, which provides direct access to Manhattan, a critical feature for working professionals. Major local institutions include the Brookdale University Hospital Medical Center, which stands as a significant employer and healthcare anchor for the community.
From a financial perspective, the numbers reveal a challenging environment for Section 8 cash flow. The FY2026 Fair Market Rent (FMR) for a 2-bedroom unit is set at $2,810, while the current market rent (Zillow ZORI) commands $3,163. This results in a negative gap of $353 per month, meaning voucher rates trail the open market. Investors should note the median home value sits at $690,650, with a median 2BR sale price of $550,427. Properties are moving relatively slowly, with a median days on market of 80 days, indicating a pace that requires liquidity management.
The tenant pool presents a nuanced demand profile. With a renter share of 48.4% and a median household income of $81,464, the population earns substantially above the typical threshold for Housing Choice Vouchers, suggesting that many residents can afford market-rate housing without assistance. This income level, paired with the neighborhood's family-friendly character and transit access, points to a stable pool of working-class renters, though it may diminish the urgency for voucher reliance compared to lower-income districts.
The Section 8 verdict here leans toward stability over immediate cash flow. The significant gap between the $2,810 FMR and $3,163 market rent limits immediate yield potential for voucher holders. However, the high median income and detached housing stock suggest strong potential for long-term appreciation and tenant retention. Investors should view 11236 as a hold-play for appreciation rather than a high-yield cash flow engine, relying on the area's residential durability rather than subsidy premiums.
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.