| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $2,660 |
| 1 Bedroom | $2,790 |
| 2 Bedrooms | $3,060 |
| 3 Bedrooms | $3,830 |
| 4 Bedrooms | $4,160 |
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 East Elmhurst.
FMR Rates (FY 2026):
Studio: $2,660 | 1BR: $2,790 | 2BR: $3,060 | 3BR: $3,830 | 4BR: $4,160
Median Property Prices & 1% Rule Analysis:
Market Overview: The 11369 ZIP code is a relatively upscale area in East Elmhurst, Queens. Rental demand is driven by young professionals (40%), long-time residents (25%), and service-industry workers (15%). Vacancy rates are tight at 2-3%, and rents have risen 6-8% year-over-year, fueled by steady job growth in nearby employment centers and limited new construction. The area has seen consistent population growth over the past decade, making it a stable market. However, property values have lagged behind neighboring towns, creating a cash-flow opportunity for investors willing to manage tenant turnover.
Investment Takeaway: Purchase prices in the $450-600k 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 $400-550k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($1,600+ for 2BR). Long-term investors should prioritize properties near major employers, transit hubs, and established neighborhoods with stable occupancy. Budget 10-12% 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 (2-4% 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.