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 | $1,960 |
| 1 Bedroom | $2,280 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,450 |
| 4 Bedrooms | $3,660 |
| 5 Bedrooms | $4,246 |
| 6 Bedrooms | $4,756 |
| 7 Bedrooms | $5,136 |
| 8 Bedrooms | $5,393 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,680 | $555,097 | 0.48% | F |
| 3BR | $3,450 | $641,197 | 0.54% | F |
| 4BR | $3,660 | $717,727 | 0.51% | F |
| 5BR | $4,246 | $734,367 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP code 11701, located in Amityville, NY, falls within the Nassau-Suffolk, NY HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 11701 is set at $2,360 for fiscal year 2024, which is slightly below the market rent of $2,690. This indicates that rental properties in this area might be more affordable compared to the overall market, potentially attracting tenants who are looking for lower-cost housing options.
The median home value in ZIP 11701 stands at $585,804, which is a reflection of the housing costs in the area. However, it's important to note that the renter share in this ZIP code is quite high at 29.2%. This suggests that a significant portion of the population in Amityville prefers renting over owning, which can be a key indicator for landlords and investors looking to enter a stable rental market.
Comparatively, typical ZIP codes within the Nassau-Suffolk, NY HUD Metro FMR Area would likely have higher home values and possibly higher FMRs. The combination of a relatively low FMR and a high renter share makes ZIP 11701 an interesting area for those seeking opportunities in affordable housing. It could be considered a value pocket within its larger metro area, offering both rental and homeownership opportunities at a price point that is below the average for the region.
The divergence between the high renter share and the below-average home values in ZIP 11701 points towards a potential sweet spot for Section 8 housing. Landlords and investors should consider the implications of these figures when evaluating investment strategies in Amityville. A high percentage of renters combined with lower-than-average home values could mean that there is a strong demand for subsidized housing units, making this ZIP code particularly attractive for those involved in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.