Suffolk County • 1 ZIP Code
Center Moriches is a coastal hamlet in Suffolk County with a population of 5,500 that grew 1.3% annually over the past five years. The majority of renters are single adults and retirees, with a 60/40 split between family households and singles. Key employment sectors include maritime services, seasonal tourism, and small retail; the median household income is $58,000, slightly below the county average. Vacancy rates hover around 5.2%, well below the state average of 7.8%, indicating strong demand. Year-over-year rent growth averaged 3.8% from FY2023 to FY2025, aligning with the 3.5% national trend. Fair Market Rents for FY2026 show Studio at $1,940, 1BR at $2,320, 2BR at $2,680, 3BR at $3,480, and 4BR at $3,680. The market remains stable, with low foreclosure activity and a robust pipeline of new construction in nearby hamlets, supporting a favorable investment climate for Section 8 tenants.
Property prices in Center Moriches range from $220,000 for modest single-family homes to $480,000 for larger 3–4 bedroom houses, with median listings at $345,000. A 2BR rental can command $2,680 FMR, yielding a gross return of 8.5% when priced at $2,800, with an expected net cash flow of $1,200/month after operating expenses (~30% of rent). 3BR units, priced at $3,480 FMR, typically net $1,800/month. The 11934 ZIP code shows the highest performance, with 4.0% annual appreciation and a 5.5% vacancy rate. Target properties include 2–3 bedroom single-family homes and duplexes, as they balance cash flow and upside. Turnkey rehabilitation projects can add 10–15% value, while buy-and-hold multifamily units offer diversification. Gross yield expectations for well-maintained 2BR units sit at 7–8%, with appreciation potential up to 4% annually.
Neighborhood variation is modest but notable: the waterfront area commands 12% higher rents and a 4% lower vacancy rate than inland zones. Tenant screening should include credit checks with a 650 minimum score, verification of income ≥1.5× rent, and a thorough background check for rental history. Property management costs average 8–10% of gross rent; selecting a local manager familiar with Section 8 regulations reduces compliance risk. A maintenance budget of 3–4% of purchase price (≈$10,500 annually) covers routine repairs and seasonal upkeep. Risks include hurricane exposure and water damage, mitigated by insurance and reinforced foundations. Long-term appreciation is moderate; projections indicate a 3.2% annual lift through 2035, driven by continued coastal desirability and limited new housing supply.