Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 11239 reveals a favorable rental environment. The HUD Fair Market Rent (FMR) for the area, set at $2,290 for fiscal year 2024, significantly exceeds the reported market rent of $1,021 based on Census ACS data. This means that voucher tenants can generate positive cash flow without requiring premium units. Landlords and small-portfolio investors should take advantage of this gap between FMR and market rent.
To further analyze the investment potential, consider the median home value in ZIP 11239, which stands at $670,966. Using this figure, we can derive a rent-to-price ratio of approximately 0.34%, calculated as follows: ($2,290 / $670,966) * 100 = 0.34%. This low ratio suggests that the rental income generated from properties in this ZIP code does not justify the purchase price based on pure rental yield alone. However, it also indicates that the area is likely to offer stability and potential for long-term appreciation, given the high property values.
Note that the data on days on market (DOM) and the percentage of homes that experience price cuts are not available, but these metrics would be crucial for understanding the dynamics of the local real estate market. In their absence, the focus remains on the strong cash flow potential provided by the disparity between market rents and HUD FMRs.
The strongest investor angle in ZIP 11239 is the potential for cash flow. Given the substantial difference between HUD FMR and the current market rent, landlords can expect to see significant positive cash flow from Section 8 tenants, making it an attractive option for those looking to generate income from their investments.
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.