Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,980 |
| 1 Bedroom | $3,130 |
| 2 Bedrooms | $3,410 |
| 3 Bedrooms | $4,320 |
| 4 Bedrooms | $4,730 |
| 5 Bedrooms | $5,487 |
| 6 Bedrooms | $6,145 |
| 7 Bedrooms | $6,637 |
| 8 Bedrooms | $6,969 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,130 | $400,680 | 0.78% | D |
| 2BR | $3,410 | $751,148 | 0.45% | F |
| 3BR | $4,320 | $1,071,755 | 0.4% | F |
| 4BR | $4,730 | $1,230,142 | 0.38% | F |
| 5BR | $5,487 | $1,446,219 | 0.38% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 11358, New York, NY, suggests a robust market with strong pricing power for the foreseeable future. The median home value stands at a substantial $1,074,852, indicating that the area is well-established and likely to retain its value. A mere 0.1% of listings have been reduced, which is an exceptionally low figure, pointing towards a seller's market where homes are holding their asking prices. This statistic, combined with the unreported median days on market (DOM), implies that homes are either selling quickly or being listed at prices that accurately reflect market conditions.
The rental market also supports this narrative. The Fair Market Rent (FMR) for ZIP 11358 in fiscal year 2024 is set at $2910, while the current market rent, measured by ZORI, is $2,708. This indicates that rental properties are undervalued relative to government standards, suggesting potential upward pressure on rents. For long-hold investors, this means that rental income could increase as the market adjusts to align with the FMR, providing a steady stream of revenue and a hedge against inflation.
Long-term investment in ZIP 11358 offers a compelling appreciation thesis. With a stable housing market and low reduction rates, there is little evidence to suggest a downturn in property values. Additionally, the rental market's potential to rise toward the FMR level provides a secondary income growth opportunity. However, it's important to note that appreciation is not guaranteed and will depend on broader economic factors and local market conditions.
In conclusion, the current data points to a resilient real estate market in ZIP 11358, with strong pricing power and potential for rental income growth. These factors create a favorable environment for both homeowners and investors looking to hold onto properties for extended periods.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.