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Queens County/Little Neck/11362

11362

ZIPSAFMR
Queens County, NY
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$3,820$2,680
1 BR$4,020$2,930
2 BR$4,380$3,770
3 BR$5,540$4,390
4 BR$6,080$5,600
5 BR$6,992Not available
6 BR$8,041Not available
7 BR$9,247Not available
8 BR$10,634Not available

Purchase Price Calculator

Maximum purchase price
$498,304

Cost breakdown

+Likely effective rent$3,770
HUD FMR$4,380
Market rentUsed$3,770
Est. payment standard (91%)$3,980
-Principal and interest-$2,520
Loan amount$398,643
Down payment$99,661
Rate6.50%
Term30 years
-Operating costs-$1,050
Property taxes-$498
Insurance-$175
Utilities$0
HOA$0
Management-$377
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$59,797(60.0% ROI)
Projected value
$536,619
Return breakdown
Property appreciation+$38,315
Loan principal paid down+$14,282
Rental cash flow+$7,200
5-year hold
+$102,951(103.3% ROI)
Projected value
$563,785
Return breakdown
Property appreciation+$65,481
Loan principal paid down+$25,469
Rental cash flow+$12,000
10-year hold
+$224,256(225.0% ROI)
Projected value
$637,871
Return breakdown
Property appreciation+$139,567
Loan principal paid down+$60,689
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.43
1 BR
1.37
2 BR
1.16
3 BR
1.26
4 BR
1.09
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11362 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11362 (Little Neck, NY) is $4,380 a month. That is up 12.0% from $3,910 in FY 2026. Little Neck 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, 11362 has the highest two-bedroom rent (county range $2,620–$4,380). The median county two-bedroom FMR in New York is $1,385, so ZIP 11362 is 216% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11362
BedroomsFY 2027Change90–110% range
Studio$3,820+12.4%$3,438–$4,202
1BR$4,020+12.6%$3,618–$4,422
2BR$4,380+12.0%$3,942–$4,818
3BR$5,540+13.1%$4,986–$6,094
4BR$6,080+14.3%$5,472–$6,688

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11362
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,820$4,020$4,380$5,540$6,080
FY 2026$3,400$3,570$3,910$4,900$5,320
FY 2025$3,070$3,210$3,550$4,420$4,770
FY 2024$2,950$3,030$3,400$4,240$4,570
FY 2023$2,560$2,620$2,960$3,720$4,010

Two-bedroom rent in nearby Queens County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11362
11356$3,340−23.7%
11357$3,500−20.1%
11358$3,410−22.1%
11359$3,050−30.4%
11360$3,820−12.8%
11361$3,630−17.1%
11362Current$4,380—
11363$3,530−19.4%
11364$3,610−17.6%
11365$2,930−33.1%
11366$3,270−25.3%
11367$3,000−31.5%

Questions about ZIP 11362 rents

How much will Section 8 pay for a two-bedroom in ZIP 11362?

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 $4,380 it would be $3,942 to $4,818. 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 11362 in?

ZIP 11362 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 11362 for FY 2027?

The two-bedroom FMR rose 12.0%, from $3,910 in FY 2026 to $4,380 in FY 2027. Since FY 2023 it has risen 48.0%.

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