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 | $2,020 |
| 1 Bedroom | $2,350 |
| 2 Bedrooms | $2,760 |
| 3 Bedrooms | $3,550 |
| 4 Bedrooms | $3,770 |
| 5 Bedrooms | $4,373 |
| 6 Bedrooms | $4,898 |
| 7 Bedrooms | $5,290 |
| 8 Bedrooms | $5,555 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,550 | $763,864 | 0.46% | F |
| 4BR | $3,770 | $900,165 | 0.42% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 11705 stands at $164,300, placing it among higher-income areas. The market rate for rent, according to the Census ACS, is $2,306 per month. This figure suggests that households in this area could afford the market rate, given their substantial income levels. However, the Federal Market Rent (FMR) for ZIP code 11705 in fiscal year 2024 is set at $2,380, slightly above the market rate. This indicates that voucher holders might face a challenge in finding units within their budget, especially if landlords demand rents closer to the FMR.
With only 11.9% of the 8,284 population being renters, competition among landlords for tenants is likely to be fierce. The affordability gap between the median income and both the market rate and FMR highlights a potential issue for landlords who must balance rental pricing with tenant eligibility for vouchers. If landlords price their units close to the FMR, they risk limiting their pool of potential tenants to those with vouchers, which may not cover the full rent amount. On the other hand, setting rents below the FMR could attract a broader range of tenants but reduce profitability.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: pricing units just under the FMR maximizes the chances of attracting tenants who can pay the full amount without relying on vouchers. For those willing to accept vouchers, understanding the local FMR is crucial to ensure the difference between the voucher payment and the full rent is minimal, thus reducing financial strain. Landlords should also consider the mix of voucher and non-voucher tenants to optimize occupancy rates and revenue.
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.