Section 8 Fair Market Rent (FMR) for ZIP 11249 - 2027

Investment Score for ZIP 11249

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	$3,210
1 Bedroom	$3,380
2 Bedrooms	$3,680
3 Bedrooms	$4,660
4 Bedrooms	$5,100
5 Bedrooms	$5,916
6 Bedrooms	$6,626
7 Bedrooms	$7,156
8 Bedrooms	$7,514

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$3,380	$1,145,948	0.29%	F
2BR	$3,680	$1,836,147	0.2%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 11249 (New York, NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 11249 is set by HUD for 2026. For a two-bedroom unit, the FMR is $3440, which represents 33.5% of the median household income of $123,047. This indicates that the FMR is significantly lower than the actual median rent for a two-bedroom unit, which stands at $1,822,470 according to Zillow. The price-to-FMR ratio of 44.1x suggests that actual rents are far above the FMR levels. This means that tenants using Section 8 vouchers would face significant challenges finding units that meet the FMR criteria. Landlords who accept Section 8 vouchers in this area must be willing to accept rents that are substantially below market rates, making it difficult to attract them. #### Affordability & Renter Profile ZIP code 11249 has a high renter population of 83.4%, indicating a strong demand for rental properties. The occupancy rate of 93.1% further supports this conclusion, showing that there is little vacancy in the market. Given the median household income of $123,047, renters in this area are likely to be middle to upper-middle class individuals or families. However, the high cost of living and the steep disparity between FMR and actual rents suggest that the market is very tight, with few affordable options available for low-income renters. The majority of residents are likely to be paying well above the FMR for their housing, especially if they are renting a two-bedroom unit. #### Investor Angle From an investor perspective, the FMR levels in ZIP code 11249 do not align with the actual market rents. The FMR for a two-bedroom unit is $3440, while the median rent is $1,822,470. This implies that even if an investor were to purchase a property and rent it out at the FMR, they would likely struggle to cover the mortgage payments and other expenses associated with owning a property in such a high-cost area. The high price-to-FMR ratio of 44.1x makes it challenging for investors to achieve positive cash flow when relying solely on FMR-based rents. The investment grade for this ZIP code would be considered poor for Section 8-focused investors due to the significant gap between FMR and actual market rents. Investors looking to participate in the Section 8 program would need to carefully consider the financial implications and possibly seek alternative sources of income to supplement their rental revenue. #### Specific Actionable Insights 1. **Focus on Larger Units**: While the FMR for a two-bedroom unit is $3440, the FMR for a four-bedroom unit is $4680. Investors might find better opportunities in larger units, where the FMR is closer to the actual market rents. A four-bedroom unit could potentially generate more income under the Section 8 program compared to smaller units. 2. **Consider Alternative Programs**: Given the high cost of living and the tight market conditions, investors should explore alternative government assistance programs that offer higher rent subsidies. These programs might provide more competitive rent levels that can support positive cash flow. 3. **Target Areas with Lower Price-to-FMR Ratios**: If possible, investors should look into neighboring ZIP codes with lower price-to-FMR ratios. This could help mitigate the financial risks associated with the high costs in ZIP code 11249. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 11249 is to **skip** this market. The extremely high price-to-FMR ratio and the tight rental market make it difficult to achieve positive cash flow. Investors would likely face significant financial challenges in covering their expenses and generating returns based on the current FMR levels. Instead, they should focus on areas with more favorable price-to-FMR ratios and less competitive rental markets.

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.