Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,250 |
| 1 Bedroom | $2,620 |
| 2 Bedrooms | $3,080 |
| 3 Bedrooms | $3,960 |
| 4 Bedrooms | $4,200 |
| 5 Bedrooms | $4,872 |
| 6 Bedrooms | $5,457 |
| 7 Bedrooms | $5,894 |
| 8 Bedrooms | $6,189 |
U.S. Census Bureau data (2024)
ZIP code 11598 is situated within the Nassau-Suffolk, NY HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $2,860. Comparatively, the market rent for this ZIP code is slightly lower at $2,794, indicating that rental properties here are priced just below the HUD's benchmark.
The median home value in ZIP 11598 stands at $1,350,306, which is notably higher than the average home values found in other ZIP codes within the same metro area. This suggests that 11598 leans towards being a premium sub-market, characterized by higher property values.
With a renter share of 11.4%, ZIP 11598 has a relatively low percentage of renters compared to typical ZIP codes in the Nassau-Suffolk, NY HUD Metro FMR Area. However, the combination of slightly below-average market rents and above-average home values does not indicate a classic Section 8 sweet spot, where high renter shares are paired with lower home values.
In summary, ZIP 11598 appears to be a premium sub-market within the larger Nassau-Suffolk, NY HUD Metro FMR Area, given its elevated home values and modestly below-FMR rental rates. While the renter share is on the lower side, the overall characteristics suggest a market more favorable to homeowners rather than a value pocket for those seeking affordable rentals.
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.