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 | $2,010 |
| 1 Bedroom | $2,340 |
| 2 Bedrooms | $2,750 |
| 3 Bedrooms | $3,540 |
| 4 Bedrooms | $3,750 |
| 5 Bedrooms | $4,350 |
| 6 Bedrooms | $4,872 |
| 7 Bedrooms | $5,262 |
| 8 Bedrooms | $5,525 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,540 | $1,110,271 | 0.32% | F |
| 4BR | $3,750 | $1,388,206 | 0.27% | F |
U.S. Census Bureau data (2024)
The renter's perspective in ZIP code 11579 reveals a complex landscape of housing affordability. With a median income of $193,590, households in this area have a substantial financial cushion. However, the market rate rent of $2,315 per month poses a significant challenge, especially when considering the Federal Market Rent (FMR) standard set at $3,000 for the fiscal year 2024.
To put these numbers into context, let's break down the implications. A household earning the median income would spend approximately 14.5% of their monthly income on the market rate rent, which is manageable but leaves little room for other expenses. On the other hand, the FMR of $3,000 represents a much higher cost, consuming nearly 20% of the median monthly income, which is less sustainable without additional financial resources.
In ZIP 11579, where 22.7% of the 5,033 residents are renters, the affordability gap between the market rate and the FMR has direct implications for landlord competition. Landlords who accept vouchers based on the FMR standard will likely appeal to a broader range of potential tenants, including those who might otherwise struggle to find affordable housing. This could mean a steady stream of rental income, albeit at a lower rate compared to market pricing.
However, landlords who opt for cash-paying tenants might attract a smaller pool of residents willing to pay the higher market rates, but they would benefit from potentially higher monthly incomes. The decision hinges on the landlord's investment goals and risk tolerance. For those prioritizing occupancy and stability, accepting vouchers could be a strategic move. Conversely, those aiming for maximum profitability might prefer cash-paying tenants despite the competitive landscape.
The takeaway for landlords is clear: the choice between voucher and cash-pay strategies should align with both market conditions and personal investment objectives. Given the median income and the high FMR, there is a notable segment of the population that could benefit from voucher-assisted housing, presenting an opportunity for landlords to balance income with tenant demand.
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.