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Queens County/New Hyde Park/11040

11040

ZIPSAFMR
Queens County, NY
Zillow

ZIP Investment Score

47Below average

095130300
BRFMR
Eff. Rent
0 BR$2,280$2,350
1 BR$2,500$2,620
2 BR$2,920$3,210
3 BR$3,760$4,140
4 BR$4,000$4,400
5 BR$4,600Not available
6 BR$5,290Not available
7 BR$6,083Not available
8 BR$6,996Not available

Purchase Price Calculator

Maximum purchase price
$415,088

Cost breakdown

+Likely effective rent$3,210
HUD FMR$2,920
Market rent$3,540
Est. payment standard (110%)Used$3,210
-Principal and interest-$2,099
Loan amount$332,071
Down payment$83,018
Rate6.50%
Term30 years
-Operating costs-$911
Property taxes-$415
Insurance-$175
Utilities$0
HOA$0
Management-$321
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$51,014(61.4% ROI)
Projected value
$447,005
Return breakdown
Property appreciation+$31,916
Loan principal paid down+$11,897
Rental cash flow+$7,200
5-year hold
+$87,762(105.7% ROI)
Projected value
$469,634
Return breakdown
Property appreciation+$54,546
Loan principal paid down+$21,216
Rental cash flow+$12,000
10-year hold
+$190,814(229.8% ROI)
Projected value
$531,348
Return breakdown
Property appreciation+$116,260
Loan principal paid down+$50,554
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.95
1 BR
0.93
2 BR
0.82
3 BR
0.80
4 BR
0.72
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11040 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11040 (New Hyde Park, NY) is $2,920 a month. That is down 4.6% from $3,060 in FY 2026. New Hyde 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, 11040 has the 62nd-highest two-bedroom rent (county range $2,620–$4,380). The median county two-bedroom FMR in New York is $1,385, so ZIP 11040 is 111% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11040
BedroomsFY 2027Change90–110% range
Studio$2,280+1.3%$2,052–$2,508
1BR$2,500−6.0%$2,250–$2,750
2BR$2,920−4.6%$2,628–$3,212
3BR$3,760−5.1%$3,384–$4,136
4BR$4,000−4.5%$3,600–$4,400

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11040
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,280$2,500$2,920$3,760$4,000
FY 2026$2,250$2,660$3,060$3,960$4,190
FY 2025$2,150$2,550$2,930$3,800$4,070
FY 2024$1,950$2,410$2,810$3,630$3,940
FY 2023$1,820$2,110$2,520$3,230$3,550

Two-bedroom rent in nearby Queens County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11040
11001$2,690−7.9%
11004$3,110+6.5%
11005$3,490+19.5%
11020$3,360+15.1%
11040Current$2,920—
11101$4,180+43.2%
11102$3,920+34.2%
11103$3,600+23.3%
11104$3,320+13.7%
11105$3,780+29.5%
11106$3,460+18.5%
11109$4,180+43.2%

Questions about ZIP 11040 rents

How much will Section 8 pay for a two-bedroom in ZIP 11040?

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 $2,920 it would be $2,628 to $3,212. 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 11040 in?

ZIP 11040 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 11040 for FY 2027?

The two-bedroom FMR fell 4.6%, from $3,060 in FY 2026 to $2,920 in FY 2027. Since FY 2023 it has risen 15.9%.

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 rentNew Hyde Park, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources