| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $2,820 |
| 1 Bedroom | $2,960 |
| 2 Bedrooms | $3,250 |
| 3 Bedrooms | $4,070 |
| 4 Bedrooms | $4,420 |
Location: New York, NY
Metro Area: New York, NY HUD Metro FMR Area
Explore Section 8 payment standards in neighboring areas:
Cities Covered: This ZIP code covers College Point, Flushing.
FMR Rates (FY 2026):
Studio: $2,820 | 1BR: $2,960 | 2BR: $3,250 | 3BR: $4,070 | 4BR: $4,420
Median Property Prices & 1% Rule Analysis:
Market Overview: The 11356 ZIP code is a rapidly gentrifying area with a mix of long-time residents (40%), young professionals (30%), and families (20%). Vacancy rates are relatively low at 2-3%, and rents have risen 8-10% year-over-year, driven by new construction, job growth in nearby industries, and limited housing stock. The area is experiencing significant population growth, making it a stable market for cash-flow investors. However, property values have surged in recent years, creating a challenge for buyers to secure affordable properties.
Investment Takeaway: Purchase prices in the $300-400k range allow gross rents to approach the 1% rule for well-selected properties. Cash-flow investors can target 8-10% gross yield on 2BR units in the $280-350k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($1,800+ for 2BR). Long-term investors should prioritize properties near major employers, transit hubs, and established neighborhoods with stable occupancy. Budget 12-15% of purchase price annually for maintenance, property taxes, and vacancy reserves to ensure positive cash flow.
Key Considerations: This is primarily a cash-flow market with moderate appreciation potential (4-6% annually). Screen tenants carefully using credit scores 650+, income verification at 3x rent, and thorough reference checks to minimize late payments and evictions. Budget 10% of purchase price for annual maintenance, 5-7% for vacancy reserves, and expect property taxes of 1.8-2.2% of assessed value. Late or unpaid rent is the dominant risk in this market, so tenant quality trumps cosmetic upgrades.