Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,980 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,710 |
| 3 Bedrooms | $3,490 |
| 4 Bedrooms | $3,700 |
| 5 Bedrooms | $4,292 |
| 6 Bedrooms | $4,807 |
| 7 Bedrooms | $5,192 |
| 8 Bedrooms | $5,452 |
The Section 8 market analysis for ZIP code 11571 reveals that landlords can expect stable cashflows when renting at the Fair Market Rent (FMR) rate set by HUD. For fiscal year 2024, the FMR for this area is $2550. However, the lack of available market rent data makes it difficult to provide a precise comparison. Based on the HUD FMR alone, landlords should see their properties cashflow at the standard FMR rate without needing to rely on premium units.
The median home value in ZIP 11571 is currently not available, which means we cannot calculate a specific rent-to-price ratio. Nonetheless, the absence of this data does not necessarily indicate a weak market; it could simply reflect a scarcity of recent sales data. To understand the rent versus buy dynamics in the area, we would need more information on the days on market (DOM) and the percentage of homes that require price cuts. This information would help determine how competitive the rental market is compared to the housing market.
In conclusion, given the current HUD FMR rate of $2550, landlords and small-portfolio investors can expect solid cashflow from voucher tenants in ZIP 11571. The strongest investor angle in this market appears to be cashflow, as it is likely to remain consistent even in the absence of detailed local market rent data.
Data Sources: FMR data from HUD (2027).
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.