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Kings County/Brooklyn/11223

11223

ZIPSAFMR
Kings County, NY
Zillow

ZIP Investment Score

53Below average

095130300
BRFMR
Eff. Rent
0 BR$2,570$2,230
1 BR$2,700$2,350
2 BR$2,940$2,850
3 BR$3,720$3,390
4 BR$4,080$3,460
5 BR$4,692Not available
6 BR$5,396Not available
7 BR$6,205Not available
8 BR$7,136Not available

Purchase Price Calculator

Maximum purchase price
$361,592

Cost breakdown

+Likely effective rent$2,850
HUD FMR$2,940
Market rentUsed$2,850
Est. payment standard (98%)$2,880
-Principal and interest-$1,828
Loan amount$289,274
Down payment$72,318
Rate6.50%
Term30 years
-Operating costs-$822
Property taxes-$362
Insurance-$175
Utilities$0
HOA$0
Management-$285
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,367(62.7% ROI)
Projected value
$389,395
Return breakdown
Property appreciation+$27,803
Loan principal paid down+$10,364
Rental cash flow+$7,200
5-year hold
+$77,998(107.9% ROI)
Projected value
$409,109
Return breakdown
Property appreciation+$47,516
Loan principal paid down+$18,482
Rental cash flow+$12,000
10-year hold
+$169,315(234.1% ROI)
Projected value
$462,869
Return breakdown
Property appreciation+$101,276
Loan principal paid down+$44,039
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.15
2 BR
1.03
3 BR
1.10
4 BR
1.18
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11223 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11223 (Brooklyn, NY) is $2,940 a month. That is up 2.1% from $2,880 in FY 2026. Brooklyn 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 50 ZIP codes in Kings County, 11223 is tied for the 32nd-highest two-bedroom rent (county range $2,620–$4,460). The median county two-bedroom FMR in New York is $1,385, so ZIP 11223 is 112% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11223
BedroomsFY 2027Change90–110% range
Studio$2,570+2.8%$2,313–$2,827
1BR$2,700+2.7%$2,430–$2,970
2BR$2,940+2.1%$2,646–$3,234
3BR$3,720+3.0%$3,348–$4,092
4BR$4,080+4.1%$3,672–$4,488

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11223
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,570$2,700$2,940$3,720$4,080
FY 2026$2,500$2,630$2,880$3,610$3,920
FY 2025$2,280$2,380$2,640$3,290$3,550
FY 2024$2,300$2,360$2,650$3,310$3,560
FY 2023$2,130$2,180$2,460$3,090$3,330

Two-bedroom rent in nearby Kings County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11223
11217$4,460+51.7%
11218$3,270+11.2%
11219$2,820−4.1%
11220$2,650−9.9%
11221$3,370+14.6%
11222$4,210+43.2%
11223Current$2,940—
11224$2,620−10.9%
11225$2,950+0.3%
11226$2,920−0.7%
11228$2,920−0.7%
11229$2,980+1.4%

Questions about ZIP 11223 rents

How much will Section 8 pay for a two-bedroom in ZIP 11223?

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 $2,940 it would be $2,646 to $3,234. 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 11223 in?

ZIP 11223 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 11223 for FY 2027?

The two-bedroom FMR rose 2.1%, from $2,880 in FY 2026 to $2,940 in FY 2027. Since FY 2023 it has risen 19.5%.

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 rentBrooklyn, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources