Section 8 Fair Market Rent (FMR) for ZIP 11429 - 2027

Location: New York, NY | Metro: New York, NY HUD Metro FMR Area

Investment Score for ZIP 11429

N/A

Monthly Rent (2BR)

$2,660

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$2,320
1 Bedroom	$2,440
2 Bedrooms	$2,660
3 Bedrooms	$3,370
4 Bedrooms	$3,690
5 Bedrooms	$4,280
6 Bedrooms	$4,794
7 Bedrooms	$5,178
8 Bedrooms	$5,437

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	$3,370	$750,738	0.45%	F
4BR	$3,690	$816,731	0.45%	F
5BR	$4,280	$879,992	0.49%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

26,832

Median Household Income

$102,880

Housing Units

8,532

Renter Percentage

27.3%

Occupancy Rate

95.4%

Renter Occupied

2,220

The ZIP code 11429, located in New York, is characterized by a robust real estate market with a mix of homeowners and renters. The area benefits from a strong economy and diverse housing options, making it attractive for both long-term residents and short-term investors.

The Fair Market Rent (FMR) for ZIP 11429 in fiscal year 2024 is set at $2,560, indicating a high rental demand and potential for lucrative returns on investment properties.
The average market rent, according to Census ACS data, stands at $1,649. This suggests that there is room for increasing rental rates to align with the FMR, potentially boosting income for landlords.
The median home value in the area is $740,009, reflecting a relatively affluent community where property appreciation is likely.
Renters make up 27.3% of the population, showing a significant but not overwhelming share of the market dedicated to rental properties.
The median income of the residents is $102,880, which supports the ability of tenants to afford higher rents and indicates a stable tenant pool.

Synthesizing these points, ZIP 11429 presents a favorable environment for landlords and small-portfolio investors. With a median home value exceeding $740,000 and median incomes above $100,000, the area has a solid economic foundation that can support higher rental prices. The difference between the market rent and the FMR offers an opportunity to increase rental rates without risking vacancy. However, the relatively low percentage of renters means that competition for tenants might be fierce, requiring landlords to maintain high-quality properties to attract and retain occupants. Overall, the potential for both rental income and property appreciation makes ZIP 11429 a worthwhile consideration for real estate investments.

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.