| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $3,400 |
| 1 Bedroom | $3,570 |
| 2 Bedrooms | $3,910 |
| 3 Bedrooms | $4,900 |
| 4 Bedrooms | $5,320 |
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 Little Neck.
FMR Rates (FY 2026):
Studio: $3,400 | 1BR: $3,570 | 2BR: $3,910 | 3BR: $4,900 | 4BR: $5,320
Median Property Prices & 1% Rule Analysis:
Market Overview: The 11362 ZIP code is a rapidly growing area with a mix of young professionals (50%), long-time residents (30%), and families (15%). 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.
Investment Takeaway: Purchase prices in the $400-500k 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 $350-450k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($2,000+ 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.