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 | $1,830 |
| 1 Bedroom | $2,150 |
| 2 Bedrooms | $2,500 |
| 3 Bedrooms | $3,220 |
| 4 Bedrooms | $3,410 |
| 5 Bedrooms | $3,956 |
| 6 Bedrooms | $4,431 |
| 7 Bedrooms | $4,785 |
| 8 Bedrooms | $5,024 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,220 | $950,660 | 0.34% | F |
| 4BR | $3,410 | $1,252,102 | 0.27% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 11596 presents a complex but promising scenario for both landlords and small-portfolio investors. With a median home value at $1,003,673, the area is firmly positioned in the high-value segment, indicating a strong demand from buyers who can afford premium properties. The fact that there is currently no reduction in the percentage of listings and the median days on market (DOM) remains unspecified suggests that sellers maintain significant pricing power. This implies that homes are selling at or near their asking prices, without the need for price adjustments, which is a positive sign for those looking to sell or refinance.
For rental property owners, the Federal Market Rent (FMR) for ZIP code 11596 in fiscal year 2024 is set at $2,490. However, the current market rent, according to the Census Bureau's American Community Survey (ACS), stands at $2,141. This gap signals an opportunity for landlords to gradually increase rents towards the FMR level, aligning with government guidelines and potentially boosting rental income. It also suggests that there is room for growth in rental rates without causing tenant distress, given the current lower-than-FMR market conditions.
In terms of long-term investment, the data implies a realistic appreciation thesis. The high median home value coupled with the absence of downward pressure on prices indicates a stable market with potential for gradual appreciation. As long as the local economy continues to support high-value housing and rental demands, investors can expect their property values to rise over time, although not at a rapid pace. The setup points towards a conservative yet reliable growth trajectory, making ZIP 11596 suitable for investors seeking steady returns rather than speculative gains.
Landlords and investors should remain vigilant to economic shifts and housing trends that could impact pricing power and rental income. However, based on the current snapshot, the market in ZIP 11596 appears poised for continued stability and gradual improvement, offering a solid foundation for long-term real estate strategies.
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.