Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,190 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $3,000 |
| 3 Bedrooms | $3,860 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 11569 in the Nassau-Suffolk, NY HUD Metro FMR Area is set at $2840 for fiscal year 2024. In comparison, the market rent as reported by the Census ACS is significantly higher at $3327. This means that landlords participating in the Section 8 program will generally experience marginal cash flow at the HUD FMR rate, unless they are renting out premium units that command a higher price due to their location, condition, or amenities.
To further analyze the investment potential, consider the median home value in ZIP 11569, which stands at $1,339,432. The rent-to-price ratio can be calculated using the HUD FMR, resulting in approximately 0.21%. This low ratio suggests that the area is primarily a homeownership market, with rental properties likely to offer modest cash flow relative to the high property values. However, it also implies strong property appreciation potential, as the high median home value indicates a robust local economy and demand for housing.
The dynamics between renting and buying in this market are crucial for investors. With a median Days on Market (DOM) and price-cut share both marked as N/A, it's evident that there is limited recent transaction data available to assess how quickly homes sell and at what price adjustments. Nevertheless, the overall strength of the local real estate market supports the idea that property values are stable and could continue to appreciate over time.
The strongest angle for Section 8 investors in ZIP 11569 is likely appreciation. Given the high median home value and the robust local economy, properties are poised to increase in value, providing investors with significant long-term gains even if short-term cash flow is marginal.
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.