Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,860 |
| 1 Bedroom | $2,160 |
| 2 Bedrooms | $2,540 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,470 |
| 5 Bedrooms | $4,025 |
| 6 Bedrooms | $4,508 |
| 7 Bedrooms | $4,869 |
| 8 Bedrooms | $5,112 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,540 | $723,735 | 0.35% | F |
| 3BR | $3,270 | $820,666 | 0.4% | F |
| 4BR | $3,470 | $869,812 | 0.4% | F |
| 5BR | $4,025 | $1,008,471 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 11010, located in Franklin Square, NY, stands out within Nassau County due to its unique demographic and economic characteristics. With a population of 25,604, it has a relatively low rental rate of 16.0%, indicating that most residents are homeowners. The median income here is $142,321, which is significantly higher than the national average, suggesting a middle to upper-middle-class community. The median home value of $810,361 further underscores the affluence of the area, placing it among the highest-valued homes in Nassau County.
When considering Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 11010 in fiscal year 2024 is set at $2,410. This figure is notably higher than the actual market rent of $2,151 reported by the Census Bureau's American Community Survey (ACS). Landlords accepting Section 8 vouchers can expect to receive slightly above-average rental income compared to the local market rates, making it a viable option for those seeking stable tenants. However, it's important to note that the difference between FMR and market rent is not substantial enough to compensate for any potential maintenance or management issues typically associated with subsidized housing.
Evaluating the overall data signature of ZIP 11010, it reads as stable. The high median income and home values indicate a financially secure community where residents are likely to be able to afford their living expenses without significant strain. Additionally, the low percentage of renters suggests a strong homeowner base, which generally contributes to a more stable neighborhood. While the slight premium offered by Section 8 vouchers can be attractive, landlords should carefully consider the balance between financial benefits and the long-term stability of their investment properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.