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 | $2,000 |
| 1 Bedroom | $2,330 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,740 | $516,148 | 0.53% | F |
| 3BR | $3,520 | $867,014 | 0.41% | F |
| 4BR | $3,740 | $924,378 | 0.4% | F |
| 5BR | $4,338 | $1,014,748 | 0.43% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 11501 does not work in favor of landlords. The Fair Market Rent (FMR) set at $2460 for the fiscal year 2024 contrasts sharply with the actual market rent of $3785, measured by the Zillow Observed Rent Index (ZORI). This indicates that government subsidies fall short of covering the full market rent, leaving landlords with a shortfall of over $1300 per unit.
Acquisition in ZIP 11501 is not particularly affordable. With a median home value of $814,854, purchasing properties in this area requires a significant capital investment. The lack of available data on days on market (DOM) and the low percentage of homes experiencing price cuts (0.1%) suggest that the housing market is robust and not offering frequent discounts to buyers. Landlords looking to acquire properties should expect to pay close to the listed values without much room for negotiation.
Tenant demand is present but limited. ZIP 11501 has a population of 21,641, with 31.3% of residents being renters. While this represents a substantial pool of potential tenants, the overall demand is tempered by the high cost of living in the area, which may deter some renters.
In conclusion, ZIP 11501 presents a challenging environment for landlords and small-portfolio investors. The gap between FMR and market rent is substantial, indicating that government subsidies will not fully cover the cost of renting out units. Acquisition costs are high, with little opportunity for bargain purchases, and while there is a notable number of renters, the overall demand is constrained by the high median home value and cost of living. Investors must carefully weigh these factors before committing to this market.
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.