Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,180 |
| 1 Bedroom | $2,640 |
| 2 Bedrooms | $3,050 |
| 3 Bedrooms | $3,950 |
| 4 Bedrooms | $4,230 |
| 5 Bedrooms | $4,907 |
| 6 Bedrooms | $5,496 |
| 7 Bedrooms | $5,936 |
| 8 Bedrooms | $6,233 |
U.S. Census Bureau data (2024)
ZIP 11548, located in Nassau-Suffolk, NY, stands out due to its unique demographic and economic characteristics. With only 2,261 residents, it has a rental rate of 4.6%, indicating that the majority of the population owns their homes. The median income in ZIP 11548 is $122,250, reflecting a relatively affluent community. However, the median home value of $1,106,843 suggests that homeownership is a significant financial commitment.
Moving into the specifics of Section 8 economics, the Fair Market Rent (FMR) for ZIP 11548 in fiscal year 2024 is set at $3,640. This figure is crucial for landlords and small-portfolio investors as it determines the maximum rent that can be charged under the Section 8 program. Despite the high median home value, the lack of market rent data indicates that the area might not have a robust rental market, which could affect the number of available vouchers and the demand for rental properties.
The data signature for ZIP 11548 reads as stable. The high median home value and median income suggest a consistent economic environment where property values are unlikely to fluctuate significantly. Additionally, the low rental rate implies that the rental market is not the primary driver of housing in this ZIP code, further reinforcing the stability of the housing situation.
For landlords and small-portfolio investors considering Section 8 participation, understanding these dynamics is essential. The FMR provides a clear benchmark for rental pricing, while the overall economic stability of the area can offer peace of mind regarding long-term investments.
Data Sources: FMR data from HUD (2027). 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.