Section 8 Fair Market Rent (FMR) for ZIP 11419 - 2027

Investment Score for ZIP 11419

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$4,140	$767,431	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 11419 (NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 11419 is set by HUD for 2026 as follows: - 0BR: $2700 - 1BR: $2840 - 2BR: $3110 (which is 40.0% of the median household income) - 3BR: $3890 - 4BR: $4230 Without recent Zillow data, it's challenging to directly compare these figures to actual market rents. However, based on historical trends and the fact that FMRs are typically conservative estimates, we can infer that actual market rents might be higher. For instance, if the average rent for a 2BR unit is $3,500, then a voucher holder would face a constraint where they could only cover up to $3,110, leaving them to pay the difference out-of-pocket. This scenario would make it difficult for low-income voucher holders to afford housing in this area without significant additional financial resources. #### Affordability & Renter Profile ZIP code 11419 has a population of 47,441, with 38.2% of residents being renters. The occupancy rate stands at 94.6%, indicating a relatively tight rental market. Given the median household income of $93,399, the 2BR FMR of $3,110 represents 40.0% of the median income, which suggests that the market is moderately affordable for middle-income families but less so for lower-income individuals. With nearly 40% of the population renting, there is a substantial demand for rental properties. However, the high occupancy rate implies that there may be limited supply, potentially driving up rents. This tight market condition means that landlords have some pricing power, and rents could exceed the FMR levels, making it harder for Section 8 voucher holders to find suitable units within their budget. #### Investor Angle From an investor perspective, the cash flow potential at FMR levels needs careful consideration. If we assume that the actual market rents are indeed higher than the FMRs, then investing in properties at FMR levels could result in lower-than-market returns. For example, if a 2BR unit typically rents for $3,500, but the FMR is $3,110, the investor would need to ensure that the property is priced attractively enough to compete with other rentals while still maintaining profitability. The investment grade in this ZIP code would likely be moderate due to the following factors: - High occupancy rates suggest strong demand. - The lack of recent Zillow data makes it difficult to assess the exact rental price dynamics. - The FMRs represent a significant portion of the median income, indicating that affordability is a key issue. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given that the FMR for 0BR and 1BR units is lower ($2700 and $2840 respectively), investors should consider acquiring or developing smaller units. These units are more likely to be affordable for voucher holders, and the demand for smaller units is often higher in densely populated areas. 2. **Target Middle-Income Families**: With the 2BR FMR representing 40.0% of the median income, targeting middle-income families who might be willing to pay slightly above FMR could provide a better cash flow. Investors could aim to offer amenities or services that justify a premium over FMR, such as modern appliances, green spaces, or proximity to public transportation. 3. **Monitor Local Rental Trends**: While we don't have recent Zillow data, monitoring local rental trends through other sources like real estate agents or local listings can provide insights into whether actual rents are significantly higher than FMRs. This will help in adjusting investment strategies accordingly. #### Bottom Line Given the data provided, the recommendation for Section 8-focused investors in ZIP code 11419 is to **Hold**. The tight rental market and high occupancy rates indicate strong demand, but the potential for rents exceeding FMR levels means that the cash flow might not be as positive as desired. Additionally, the lack of recent rental price data introduces uncertainty. Investors should focus on smaller units and middle-income families, but they should also be prepared for the possibility of needing to offer competitive rents above FMR to remain attractive to tenants.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.