FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR
1.08ratio
FMR$2,700
Market$2,500
vs market+$200
FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR
0.86ratio
FMR$3,130
Market$3,630
vs market-$500
FMR is below market; voucher rent may lag private rents.
0.86
3 BR
3 BR
0.90ratio
FMR$4,020
Market$4,450
vs market-$430
FMR is near market; voucher and private rents are aligned.
0.90
4 BR
4 BR
0.73ratio
FMR$4,290
Market$5,880
vs market-$1,590
FMR is below market; voucher rent may lag private rents.
0.73
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 11042 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11042 (New Hyde Park, NY) is $3,130 a month. That is down 1.9% from $3,190 in FY 2026. New Hyde Park is in the Nassau-Suffolk, 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 $2,689. Among 86 ZIP codes in Nassau County, 11042 has the 19th-highest two-bedroom rent (county range $2,480–$4,030). The median county two-bedroom FMR in New York is $1,385, so ZIP 11042 is 126% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 11042
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,390
$2,370
−0.8%
$2,133–$2,607
1BR
$2,790
$2,700
−3.2%
$2,430–$2,970
2BR
$3,190
$3,130
−1.9%
$2,817–$3,443
3BR
$4,110
$4,020
−2.2%
$3,618–$4,422
4BR
$4,370
$4,290
−1.8%
$3,861–$4,719
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 11042
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,370
$2,700
$3,130
$4,020
$4,290
FY 2026
$2,390
$2,790
$3,190
$4,110
$4,370
FY 2025
$2,240
$2,640
$3,030
$3,900
$4,180
FY 2024
$2,100
$2,530
$2,940
$3,780
$4,090
FY 2023
$1,560
$1,950
$2,340
$3,010
$3,310
Two-bedroom rent in nearby Nassau County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 11042?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,689, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,420 to $2,958 a month; under the ZIP-level Small Area FMR of $3,130 it would be $2,817 to $3,443. 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 11042 in?
ZIP 11042 is in the Nassau-Suffolk, NY HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,689.
How much did fair market rent change in ZIP 11042 for FY 2027?
The two-bedroom FMR fell 1.9%, from $3,190 in FY 2026 to $3,130 in FY 2027. Since FY 2023 it has risen 33.8%.
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