| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $2,300 |
| 1 Bedroom | $2,420 |
| 2 Bedrooms | $2,650 |
| 3 Bedrooms | $3,320 |
| 4 Bedrooms | $3,610 |
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 Queens Village.
FMR Rates (FY 2026):
Studio: $2,300 | 1BR: $2,420 | 2BR: $2,650 | 3BR: $3,320 | 4BR: $3,610
Median Property Prices & 1% Rule Analysis:
Market Overview: The 11427 ZIP code is a predominantly residential area with a mix of young professionals (45%), families (30%), and service-industry workers (25%). Vacancy rates are relatively low at 3-5%, driven by steady job growth in nearby employment centers. Rents have risen 4-6% year-over-year, fueled by limited new construction and increasing demand for housing. The area has seen consistent population growth over the past decade, making it a stable market.
Investment Takeaway: Purchase prices in the $400-600k range allow gross rents to approach the 1% rule for well-selected properties. Cash-flow investors can target 7-9% gross yield on 2BR units in the $380-450k segment, with the best returns coming from turnkey rentals or light rehabs that can command top-tier rents ($2,100+ for 2BR). Long-term investors should prioritize properties near major employers 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.