FMR is near market; voucher and private rents are aligned.
1.09
3 BR
3 BR
1.19ratio
FMR$3,860
Market$3,250
vs market+$610
FMR is above market; underwrite to market rent.
1.19
4 BR
4 BR
1.35ratio
FMR$4,230
Market$3,140
vs market+$1,090
FMR is above market; underwrite to market rent.
1.35
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 11437 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11437 (Jamaica, NY) is $3,050 a month. That is up 2.0% from $2,990 in FY 2026. Jamaica 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, 11437 is tied for the 44th-highest two-bedroom rent (county range $2,620–$4,380). The median county two-bedroom FMR in New York is $1,385, so ZIP 11437 is 120% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 11437
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,600
$2,660
+2.3%
$2,394–$2,926
1BR
$2,730
$2,800
+2.6%
$2,520–$3,080
2BR
$2,990
$3,050
+2.0%
$2,745–$3,355
3BR
$3,740
$3,860
+3.2%
$3,474–$4,246
4BR
$4,070
$4,230
+3.9%
$3,807–$4,653
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 11437
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,660
$2,800
$3,050
$3,860
$4,230
FY 2026
$2,600
$2,730
$2,990
$3,740
$4,070
FY 2025area FMR
$2,406
$2,511
$2,780
$3,465
$3,738
FY 2024area FMR
$2,386
$2,451
$2,752
$3,434
$3,700
FY 2023area FMR
$2,123
$2,170
$2,451
$3,078
$3,316
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Queens County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 11437?
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 $3,050 it would be $2,745 to $3,355. 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 11437 in?
ZIP 11437 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 11437 for FY 2027?
The two-bedroom FMR rose 2.0%, from $2,990 in FY 2026 to $3,050 in FY 2027.
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