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 | $2,660 |
| 1 Bedroom | $2,800 |
| 2 Bedrooms | $3,050 |
| 3 Bedrooms | $3,860 |
| 4 Bedrooms | $4,230 |
| 5 Bedrooms | $4,907 |
| 6 Bedrooms | $5,496 |
| 7 Bedrooms | $5,936 |
| 8 Bedrooms | $6,233 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,800 | $267,519 | 1.05% | B |
| 2BR | $3,050 | $414,868 | 0.74% | D |
| 3BR | $3,860 | $917,124 | 0.42% | F |
U.S. Census Bureau data (2024)
2890 is the Fair Market Rent (FMR) for ZIP code 11369 in New York, NY, as set for fiscal year 2024. 1924 is the average market rent for the area, based on Census ACS data, indicating that properties priced at or below the FMR offer significant value to both tenants and investors. 842,341 represents the median home value in the region, reflecting a robust housing market where rental properties can command premium rates. 49.2% of residents in this area are renters, highlighting a strong demand for rental units. 80,297 is the median income figure, suggesting that the local population has the financial means to support higher rents without straining their budgets. While the days on market (DOM) data is not available, the low 0.1% price-cut share indicates that homes and rentals in this area sell quickly at or near their asking price, which is advantageous for landlords and small-portfolio investors looking to maintain or increase property values.
The disparity between the FMR of 2890 and the market rent of 1924 presents an opportunity for landlords who can offer well-maintained properties at or slightly above the FMR. This strategy aligns with the financial capabilities of the median income of 80,297, ensuring steady occupancy and rental income. The high median home value of 842,341 suggests that the neighborhood is desirable, further supporting the idea that rental properties can be marketed effectively to Section 8 participants and other renters.
Given the strong rental market dynamics, with a high renter share of 49.2% and a minimal need for price reductions indicated by the 0.1% price-cut share, the verdict for Section 8 participation in ZIP 11369 is positive. Landlords can expect stable tenancy and fair returns while contributing to affordable housing initiatives.
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.