Section 8 Fair Market Rent (FMR) for ZIP 11756 - 2027

Investment Score for ZIP 11756

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	$2,130
1 Bedroom	$2,480
2 Bedrooms	$2,920
3 Bedrooms	$3,760
4 Bedrooms	$3,990
5 Bedrooms	$4,628
6 Bedrooms	$5,183
7 Bedrooms	$5,598
8 Bedrooms	$5,878

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	$3,760	$721,030	0.52%	F
4BR	$3,990	$753,239	0.53%	F
5BR	$4,628	$832,149	0.56%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 11756, NY #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 11756 in New York are as follows: - 0BR: $2180 - 1BR: $2600 - 2BR: $3000 (24.7% of median income) - 3BR: $3890 - 4BR: $4120 Given that there is no recent Zillow data available, we cannot directly compare these FMRs to actual rental prices. However, it is important to note that FMRs are designed to reflect the average rent levels for decent, safe, and sanitary housing in the area. If actual rents are higher than the FMRs, voucher holders will face significant constraints, as they can only cover up to the FMR amount. This means that for a 2BR unit, which is a common size for families, the maximum payment would be $3000 per month. #### Affordability & Renter Profile ZIP code 11756 has a median household income of $146,019, indicating a relatively affluent area. The renter percentage is quite low at 7.7%, suggesting that homeownership is the dominant form of housing tenure. With such a high median income, renters in this area are likely to be upper-middle class individuals or families who prefer renting over buying due to lifestyle choices or financial strategies. The occupancy rate of 97.4% indicates that the market is tight, with very few vacant units. This suggests strong demand for rental properties, which could drive up rental prices beyond the FMRs. Given the low renter percentage, the number of potential Section 8 voucher holders is also limited, making it a challenging market for those relying on vouchers. #### Investor Angle From an investor's perspective, the cash flow potential at the FMR rates must be evaluated against the local rental market conditions. Since we do not have recent rental price data, we can infer that the high median income and tight market might result in actual rents exceeding the FMRs. For example, a 2BR unit at $3000 might actually rent for higher due to the scarcity of units and the willingness of affluent tenants to pay more. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the typical operating costs, including property taxes, maintenance, insurance, and other expenses. Assuming an average operating cost of around 50% of the FMR, the net cash flow would be: - 0BR: $2180 * 0.5 = $1090 net - 1BR: $2600 * 0.5 = $1300 net - 2BR: $3000 * 0.5 = $1500 net - 3BR: $3890 * 0.5 = $1945 net - 4BR: $4120 * 0.5 = $2060 net These figures suggest that while the cash flow is positive, it may be lower than what investors could achieve in areas with higher renter percentages and less stringent affordability requirements. The investment grade in this ZIP code would likely be moderate to low for Section 8-focused investors due to the limited number of potential voucher holders and the possibility of actual rents being higher than FMRs. #### Specific Actionable Insights 1. **Target High-Income Renters**: Given the high median income and the likely higher actual rents, investors should focus on marketing their properties to high-income renters who are willing to pay above the FMR. This strategy could maximize returns and ensure steady occupancy. 2. **Consider Property Upgrades**: To attract the upper-middle-class renters in this area, property upgrades such as modern kitchens, luxury bathrooms, and high-end finishes could increase the rental value above the FMR. This would make the investment more attractive despite the constraints faced by Section 8 voucher holders. 3. **Evaluate Alternative Investment Opportunities**: Due to the limited number of potential Section 8 voucher holders (only 7.7% of the population), investors might want to explore alternative investment opportunities in ZIP codes with higher renter percentages and more affordable housing options. This could provide better cash flow and a larger pool of potential tenants. #### Bottom Line Based on the data provided, the recommendation for Section 8-focused investors is to **skip** this ZIP code. The high median income and low renter percentage indicate that the number of potential voucher holders is limited, and the tight market suggests that actual rents may exceed the FMRs. While the ZIP code offers some cash flow potential, it is not optimal for investors primarily interested in Section 8 vouchers. Instead, investors should look for areas with higher renter percentages and more affordable housing options to maximize their returns and tenant pool.

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.