Location: New York, NY | Metro: New York, NY HUD Metro FMR Area
| 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 |
ZIP code 11424, situated within the New York, NY HUD Metro FMR Area, has a Fair Market Rent (FMR) of $2820 for fiscal year 2024. This places it above the FMR for a two-bedroom unit in the broader New York metro area, which was reported to be $2,580 for fiscal year 2025 according to RentData.org. The absence of specific market rent and home value data for 11424 means direct comparisons are limited, but the higher FMR suggests it is positioned as a premium sub-market within the metro.
In the New York, NY HUD Metro FMR Area, landlords and small-portfolio investors must adhere to the FMR guidelines set by HUD. For ZIP 11424, the higher FMR indicates that rents are generally more expensive compared to the metro-wide average. This could mean that properties in 11424 command higher rents, but also face greater competition from other areas within the same metro where the cost of renting might be lower.
The lack of detailed market rent and home value data for 11424 means there is no immediate evidence to suggest it is a value pocket or a particularly attractive location for Section 8 participants based solely on these metrics. However, the higher FMR does imply that it is a more expensive area, likely attracting tenants with higher incomes or those willing to pay more for the location.
To fully assess whether 11424 is a sweet spot for Section 8 participants, additional research is required to determine the actual renter share and home values. These factors would help identify if there is a significant portion of the population relying on rental assistance and if the property values are lower relative to the metro average, which could indicate a more affordable neighborhood for subsidized housing.
Data Sources: FMR data from HUD (2027).
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.