| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $2,710 |
| 1 Bedroom | $2,850 |
| 2 Bedrooms | $3,120 |
| 3 Bedrooms | $3,910 |
| 4 Bedrooms | $4,240 |
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 Springfield Gardens.
FMR Rates (FY 2026):
Studio: $2,710 | 1BR: $2,850 | 2BR: $3,120 | 3BR: $3,910 | 4BR: $4,240
Median Property Prices & 1% Rule Analysis:
Market Overview: The 11413 ZIP code is situated in the southeastern part of Queens, with a mix of young professionals (30%), families (40%), and service-industry workers (30%). Vacancy rates remain low at 2%, driven by consistent population growth and limited new construction. Rents have risen 4-6% year-over-year, fueled by steady job growth in nearby employment centers and increasing demand for housing in established neighborhoods.
Investment Takeaway: Purchase prices in the $300-500k 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 $250-350k 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 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 (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. Late or unpaid rent is the dominant risk in this market, so tenant quality trumps cosmetic upgrades.