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Queens County/Floral Park/11005

11005

ZIPSAFMR
Queens County, NY
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$3,050$2,660
1 BR$3,210$2,770
2 BR$3,490$3,620
3 BR$4,420$4,430
4 BR$4,840$5,320
5 BR$5,566Not available
6 BR$6,401Not available
7 BR$7,361Not available
8 BR$8,465Not available

Purchase Price Calculator

Maximum purchase price
$476,014

Cost breakdown

+Likely effective rent$3,620
HUD FMR$3,490
Market rent$3,690
Est. payment standard (104%)Used$3,620
-Principal and interest-$2,407
Loan amount$380,811
Down payment$95,203
Rate6.50%
Term30 years
-Operating costs-$1,013
Property taxes-$476
Insurance-$175
Utilities$0
HOA$0
Management-$362
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,445(60.3% ROI)
Projected value
$512,615
Return breakdown
Property appreciation+$36,601
Loan principal paid down+$13,644
Rental cash flow+$7,200
5-year hold
+$98,882(103.9% ROI)
Projected value
$538,566
Return breakdown
Property appreciation+$62,552
Loan principal paid down+$24,330
Rental cash flow+$12,000
10-year hold
+$215,298(226.1% ROI)
Projected value
$609,338
Return breakdown
Property appreciation+$133,324
Loan principal paid down+$57,974
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.16
2 BR
0.95
3 BR
1.00
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11005 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11005 (Floral Park, NY) is $3,490 a month. That is up 0.3% from $3,480 in FY 2026. Floral Park is in the New York, NY HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,971. Among 79 ZIP codes in Queens County, 11005 has the 15th-highest two-bedroom rent (county range $2,620–$4,380). The median county two-bedroom FMR in New York is $1,385, so ZIP 11005 is 152% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11005
BedroomsFY 2027Change90–110% range
Studio$3,050+1.0%$2,745–$3,355
1BR$3,210+1.3%$2,889–$3,531
2BR$3,490+0.3%$3,141–$3,839
3BR$4,420+1.4%$3,978–$4,862
4BR$4,840+2.3%$4,356–$5,324

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11005
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,050$3,210$3,490$4,420$4,840
FY 2026$3,020$3,170$3,480$4,360$4,730
FY 2025$3,230$3,320$3,720$4,640$5,000
FY 2024$3,580$3,680$4,130$5,150$5,550
FY 2023$3,190$3,260$3,680$4,620$4,980

Two-bedroom rent in nearby Queens County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11005
11001$2,690−22.9%
11004$3,110−10.9%
11005Current$3,490—
11020$3,360−3.7%
11040$2,920−16.3%
11101$4,180+19.8%
11102$3,920+12.3%
11103$3,600+3.2%
11104$3,320−4.9%
11105$3,780+8.3%
11106$3,460−0.9%
11109$4,180+19.8%

Questions about ZIP 11005 rents

How much will Section 8 pay for a two-bedroom in ZIP 11005?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,971, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,674 to $3,268 a month; under the ZIP-level Small Area FMR of $3,490 it would be $3,141 to $3,839. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 11005 in?

ZIP 11005 is in the New York, NY HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,971.

How much did fair market rent change in ZIP 11005 for FY 2027?

The two-bedroom FMR rose 0.3%, from $3,480 in FY 2026 to $3,490 in FY 2027. Since FY 2023 it has fallen 5.2%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentFloral Park, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources