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 | $1,910 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,370 |
| 4 Bedrooms | $3,580 |
| 5 Bedrooms | $4,153 |
| 6 Bedrooms | $4,651 |
| 7 Bedrooms | $5,023 |
| 8 Bedrooms | $5,274 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,620 | $570,444 | 0.46% | F |
| 3BR | $3,370 | $789,488 | 0.43% | F |
| 4BR | $3,580 | $849,160 | 0.42% | F |
| 5BR | $4,153 | $921,090 | 0.45% | F |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 11563 (Lynbrook, NY) for Section 8 purposes, follow this decision tree:
1) Does FMR $2,560 (ZIP FY 2024) clear debt service on a $747,989 property?
No. The Fair Market Rent (FMR) for ZIP 11563 in fiscal year 2024 is $2,560. This amount does not sufficiently cover the debt service on a property valued at $747,989. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. At this valuation, the monthly rental income would likely fall short of these expenses.
Yes. If your property cost significantly less than $747,989, then the FMR of $2,560 might be enough to clear the debt service. However, this scenario is unlikely given the average property values in Lynbrook.
It depends. It depends on the specifics of your financing terms and local property costs. For instance, if you own the property outright or have a low-interest mortgage, the FMR could potentially cover your costs. Still, given the typical costs associated with property ownership, it's unlikely that $2,560 will be sufficient.
2) Is market rent $2,900 (ZORI) above, at, or below FMR?
Above. The market rent, indicated by the Zillow Rent Index (ZORI), is $2,900. This is higher than the FMR of $2,560, suggesting that properties in Lynbrook can command rents above what is covered by Section 8 vouchers.
At. Not applicable since the ZORI is above the FMR.
Below. Not applicable since the ZORI is above the FMR.
3) Are 23.7% renters + N/A-day DOM enough demand?
Yes. With 23.7% of residents being renters, there is a decent demand for rental properties. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. Despite this, the percentage of renters indicates a stable tenant base.
No. If you require quick turnover and fast rental periods, the missing DOM data suggests uncertainty about the speed of finding tenants. Additionally, while 23.7% of residents renting is not negligible, it may not be high enough to guarantee a steady stream of Section 8 tenants.
It depends. It depends on your investment strategy and tolerance for risk. If you are willing to wait for tenants and have a long-term outlook, the 23.7% of renters might be sufficient. If you need rapid returns and certainty, the lack of DOM data introduces an element of unpredictability.
In conclusion, based on the data provided, the FMR of $2,560 is unlikely to clear the debt service on a $747,989 property. The market rent being above the FMR is positive but doesn't directly address the financial viability of a Section 8 investment. Lastly, the demand for rentals appears moderate but is contingent upon the specifics of your investment goals and the missing DOM data.
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.