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Kings County/Brooklyn/11231

11231

ZIPSAFMR
Kings County, NY
Zillow

ZIP Investment Score

32Below average

095130300
BRFMR
Eff. Rent
0 BR$3,890$3,950
1 BR$4,100$4,330
2 BR$4,460$4,810
3 BR$5,640$6,150
4 BR$6,190$6,810
5 BR$7,118Not available
6 BR$8,186Not available
7 BR$9,414Not available
8 BR$10,826Not available

Purchase Price Calculator

Maximum purchase price
$652,848

Cost breakdown

+Likely effective rent$4,810
HUD FMR$4,460
Market rent$5,000
Est. payment standard (108%)Used$4,810
-Principal and interest-$3,301
Loan amount$522,278
Down payment$130,570
Rate6.50%
Term30 years
-Operating costs-$1,309
Property taxes-$653
Insurance-$175
Utilities$0
HOA$0
Management-$481
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$76,110(58.3% ROI)
Projected value
$703,045
Return breakdown
Property appreciation+$50,198
Loan principal paid down+$18,712
Rental cash flow+$7,200
5-year hold
+$131,158(100.5% ROI)
Projected value
$738,637
Return breakdown
Property appreciation+$85,790
Loan principal paid down+$33,368
Rental cash flow+$12,000
10-year hold
+$286,363(219.3% ROI)
Projected value
$835,700
Return breakdown
Property appreciation+$182,853
Loan principal paid down+$79,511
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.98
1 BR
0.92
2 BR
0.89
3 BR
0.88
4 BR
0.57
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11231 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11231 (Brooklyn, NY) is $4,460 a month. That is up 2.1% from $4,370 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, 11231 is tied for the highest two-bedroom rent (county range $2,620–$4,460). The median county two-bedroom FMR in New York is $1,385, so ZIP 11231 is 222% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11231
BedroomsFY 2027Change90–110% range
Studio$3,890+2.4%$3,501–$4,279
1BR$4,100+2.8%$3,690–$4,510
2BR$4,460+2.1%$4,014–$4,906
3BR$5,640+3.1%$5,076–$6,204
4BR$6,190+4.0%$5,571–$6,809

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11231
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,890$4,100$4,460$5,640$6,190
FY 2026$3,800$3,990$4,370$5,470$5,950
FY 2025$3,430$3,580$3,960$4,940$5,320
FY 2024$3,330$3,420$3,840$4,790$5,160
FY 2023$3,070$3,130$3,540$4,450$4,790

Two-bedroom rent in nearby Kings County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11231
11225$2,950−33.9%
11226$2,920−34.5%
11228$2,920−34.5%
11229$2,980−33.2%
11230$3,120−30.0%
11231Current$4,460—
11232$2,980−33.2%
11233$2,840−36.3%
11234$3,020−32.3%
11235$2,890−35.2%
11236$2,870−35.7%
11237$3,270−26.7%

Questions about ZIP 11231 rents

How much will Section 8 pay for a two-bedroom in ZIP 11231?

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 $4,460 it would be $4,014 to $4,906. 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 11231 in?

ZIP 11231 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 11231 for FY 2027?

The two-bedroom FMR rose 2.1%, from $4,370 in FY 2026 to $4,460 in FY 2027. Since FY 2023 it has risen 26.0%.

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