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 | $2,500 |
| 1 Bedroom | $2,910 |
| 2 Bedrooms | $3,420 |
| 3 Bedrooms | $4,400 |
| 4 Bedrooms | $4,670 |
| 5 Bedrooms | $5,417 |
| 6 Bedrooms | $6,067 |
| 7 Bedrooms | $6,552 |
| 8 Bedrooms | $6,880 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,420 | $673,256 | 0.51% | F |
| 3BR | $4,400 | $788,622 | 0.56% | F |
| 4BR | $4,670 | $833,388 | 0.56% | F |
| 5BR | $5,417 | $962,556 | 0.56% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 11552, West Hempstead, NY, reflects a dynamic equilibrium between supply and demand. The Fair Market Rent (FMR) for the area stands at $2,690 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a market rent of $3,771. This suggests that the rental market is robust and exceeds the government's fair market assessment, pointing towards a strong demand for rental properties.
The low price-cut share of 0.1% reveals that landlords and property owners are generally confident in their pricing strategies, indicating that the rental market is stable and not prone to significant discounts. However, the lack of available data on days on market (DOM) means we cannot definitively assess how quickly rentals are being leased. The median home value in the area is $786,243, which is indicative of a relatively affluent neighborhood where homeownership is common.
The 10.6% renter share provides insight into the long-term housing pressures faced by residents. Despite this relatively low percentage of renters, it still represents a substantial segment of the population that relies on the rental market. This can imply ongoing housing pressure, especially if the number of renters is increasing over time. In such a scenario, landlords and small-portfolio investors should be aware of the potential for rising rents and increased competition among tenants, making it a favorable environment for those looking to invest in rental properties.
Given the snapshot of the current market conditions, it is evident that demand for rentals is strong, but the high median home value also suggests a significant level of homeownership. This balance creates a vibrant market with opportunities for both landlords and homeowners. The rental market appears to be under less supply pressure, given the stable rent levels and minimal need for price cuts, making it a promising area for real estate investment.
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.