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 | $2,010 |
| 1 Bedroom | $2,340 |
| 2 Bedrooms | $2,750 |
| 3 Bedrooms | $3,540 |
| 4 Bedrooms | $3,750 |
| 5 Bedrooms | $4,350 |
| 6 Bedrooms | $4,872 |
| 7 Bedrooms | $5,262 |
| 8 Bedrooms | $5,525 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,750 | $566,926 | 0.49% | F |
| 3BR | $3,540 | $748,237 | 0.47% | F |
| 4BR | $3,750 | $867,100 | 0.43% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 11518, East Rockaway, NY, for fiscal year 2024 is set at $2,490. This figure represents the maximum amount that a landlord can receive through the Section 8 program for a unit in this area. It's important to note that this is not the rent you charge your tenant; rather, it's the payment standard used by the housing authority to determine the monthly housing assistance payment.
In comparison, the average rent for the same area, according to the Census American Community Survey (ACS), is $2,499. This means that the market rent is slightly higher than the FMR, which could allow you to charge a small portion above the $2,490 as a tenant's share of the rent. However, the total rent cannot exceed the local market rate significantly, so you should keep the difference minimal.
The FMR also gives insight into the potential demand for Section 8 rentals. With a renter share of 17.2%, there is a substantial market for affordable housing in East Rockaway. This indicates that nearly one in every six households might be interested in renting a Section 8 property, providing a steady pool of tenants.
If you're looking to acquire a property in this area, the median home value is around $723,875. This figure represents the typical price range for a single-family home in East Rockaway, giving you an idea of the initial investment required to enter the Section 8 market here.
Before proceeding with your first Section 8 rental in East Rockaway, ensure that the property meets all the necessary quality standards. The housing authority will inspect the property to confirm it complies with the Housing Quality Standards (HQS), which include safety and habitability criteria. Passing this inspection is critical for securing a tenant under the Section 8 program.
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.