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 | $2,850 |
| 1 Bedroom | $3,000 |
| 2 Bedrooms | $3,270 |
| 3 Bedrooms | $4,140 |
| 4 Bedrooms | $4,540 |
| 5 Bedrooms | $5,266 |
| 6 Bedrooms | $5,898 |
| 7 Bedrooms | $6,370 |
| 8 Bedrooms | $6,689 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $4,140 | $1,140,955 | 0.36% | F |
| 4BR | $4,540 | $1,280,791 | 0.35% | F |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 11366 for Section 8 landlords presents several challenges that must be carefully considered. Tenant turnover is a significant issue, with the market rent set at $2,400 compared to the Fair Market Rent (FMR) of $2,940 for FY 2024. This gap can lead to frequent changes in occupancy, which can disrupt property management and reduce the overall profitability of the investment. Additionally, the vacancy exposure is heightened due to the lack of data on days on market (DOM), indicating that properties might remain unoccupied longer than anticipated, leading to financial strain.
The deferred maintenance exposure is another critical factor. With a typical home value of $1,128,728 and a median income of $135,373, the cost of maintaining and repairing homes can be substantial relative to the average income levels. Landlords must be prepared to invest in regular upkeep to ensure their properties meet the standards required by the Section 8 program, which can be costly and time-consuming.
However, these risks are tempered by the high renter density in the area. The 27.5% renter share suggests a robust demand for rental properties, including those that accept Section 8 vouchers. High renter concentration often translates into a steady pool of potential tenants, reducing the likelihood of prolonged vacancies and ensuring a consistent flow of rental income.
In summary, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance costs in ZIP code 11366 are significant but manageable given the strong demand for rentals. For a first-time Section 8 landlord, the investment in this ZIP code carries a moderate risk.
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.