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 | $2,110 |
| 1 Bedroom | $2,440 |
| 2 Bedrooms | $2,880 |
| 3 Bedrooms | $3,700 |
| 4 Bedrooms | $3,930 |
| 5 Bedrooms | $4,559 |
| 6 Bedrooms | $5,106 |
| 7 Bedrooms | $5,514 |
| 8 Bedrooms | $5,790 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,700 | $1,224,018 | 0.3% | F |
| 4BR | $3,930 | $1,530,386 | 0.26% | F |
| 5BR | $4,559 | $2,399,798 | 0.19% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 11577 in fiscal year 2024 is set at $3090. This figure represents the payment standard for Section 8 housing vouchers, which is the amount that the government will pay landlords on behalf of eligible tenants. It's important to note that this is not the total rent you can charge; it's the maximum reimbursement rate from the Housing Choice Voucher program.
To put this into perspective, the average rent in ZIP 11577, according to the latest Census American Community Survey (ACS), is $2,514. This means that the FMR is higher than the typical market rent, potentially providing a better income stream for landlords who participate in the Section 8 program.
The renter share in this area is 8.7%, indicating a steady demand for rental properties. With an estimated acquisition cost of $1,358,156, this suggests the average price a landlord might expect to pay for a property in this ZIP code, based on current market conditions. This investment could be worthwhile given the higher reimbursement rates from the Section 8 program.
Before committing to a Section 8 rental property, ensure that the property meets all the required standards set by the Housing Authority. These standards include safety, health, and structural criteria, ensuring that the property is habitable and up to code. This verification step is crucial as it directly impacts your eligibility for receiving the full reimbursement rate of $3090.
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.