Section 8 Fair Market Rent (FMR) for ZIP 11252 - 2027
Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,590 |
| 1 Bedroom | $2,730 |
| 2 Bedrooms | $2,970 |
| 3 Bedrooms | $3,760 |
| 4 Bedrooms | $4,120 |
| 5 Bedrooms | $4,779 |
| 6 Bedrooms | $5,352 |
| 7 Bedrooms | $5,780 |
| 8 Bedrooms | $6,069 |
To determine if you should buy in ZIP code 11252 for Section 8 purposes, follow these steps:
- Does FMR $2730 (zip FY 2024) clear debt service on a property?
- Yes: If your property's debt service is less than $2730 per month, then the Fair Market Rent (FMR) for ZIP 11252 can cover your costs. Proceed to the next question.
- No: If your property's debt service exceeds $2730 per month, then relying solely on Section 8 will not be financially viable. Consider other investment strategies.
- Is market rent above, at, or below FMR?
- Above: If the market rent is higher than $2730, you may face challenges renting exclusively to Section 8 tenants, as they might prefer units that offer better value based on the FMR. It depends on how much higher the market rent is and whether you can attract non-Section 8 tenants.
- At: If the market rent equals the FMR, then Section 8 tenants can afford the rent, and there's no financial disadvantage to renting to them. Move to the next question.
- Below: If the market rent is lower than $2730, then Section 8 tenants can afford the rent, and you might benefit from the guaranteed income. Continue to the next question.
- Are renters' demand and days on market (DOM) sufficient?
- It depends: Without specific percentages for renters' demand and days on market, it's challenging to provide a definitive answer. However, if the percentage of renters is high and the DOM is low, it indicates strong demand for rental properties in ZIP 11252, which would support an investment in Section 8 properties. Conversely, if the percentage of renters is low and the DOM is high, it suggests weaker demand and could make it harder to find tenants, even with the FMR covering costs.
Note: The analysis above is based on the given FMR of $2730 for ZIP 11252 for fiscal year 2024. Specific figures for market rent, debt service, renters' demand percentage, and days on market were not provided, making a precise recommendation impossible. For a comprehensive assessment, obtain these missing metrics.
Data Sources: FMR data from HUD (2027).
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.