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 | $1,800 |
| 1 Bedroom | $2,150 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,210 |
| 4 Bedrooms | $3,400 |
| 5 Bedrooms | $3,944 |
| 6 Bedrooms | $4,417 |
| 7 Bedrooms | $4,770 |
| 8 Bedrooms | $5,009 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,480 | $590,026 | 0.42% | F |
| 3BR | $3,210 | $726,428 | 0.44% | F |
| 4BR | $3,400 | $794,915 | 0.43% | F |
| 5BR | $3,944 | $852,710 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 11510 in Baldwin, NY, presents an interesting mix of yield and stability for real estate investors. On the yield axis, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,490, which is notably higher than the average market rent of $1,890. This suggests that properties in this area can potentially command rents above the market average, thereby increasing the potential rental income per unit.
However, the median home value in ZIP 11510 stands at $714,455, indicating a relatively high barrier to entry for new investors looking to acquire properties. The disparity between the FMR and the market rent, coupled with the high median home value, points towards a scenario where investors might see a higher-than-average return on investment if they can secure tenants willing to pay the FMR rate.
Moving to the stability axis, ZIP 11510 has a renter occupancy rate of 13.0%, which is quite low compared to typical rental markets. This figure implies that there is a significant owner-occupied population, making it harder to find suitable tenants for rental properties. Additionally, the days on market (DOM) average of 38 days suggests that while rentals do move fairly quickly once listed, the overall rental demand is not extremely robust. Lastly, the median household income of $147,319 indicates that residents have strong financial standing, which is positive for tenant reliability but also reflects a neighborhood where homeownership is likely preferred over renting.
Based on these figures, ZIP 11510 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The relatively high FMR compared to market rent suggests good potential for rental income, but the low renter occupancy rate and median home value indicate that the market is not highly speculative or prone to rapid turnover. Investors should expect moderate yields with a stable tenant base, given the financial strength of the local population.
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.