Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,800 |
| 1 Bedroom | $2,150 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,210 |
| 4 Bedrooms | $3,400 |
| 5 Bedrooms | $3,944 |
| 6 Bedrooms | $4,417 |
| 7 Bedrooms | $4,770 |
| 8 Bedrooms | $5,009 |
U.S. Census Bureau data (2024)
Bay Shore, NY 11706 offers a compelling blend of suburban stability and maritime accessibility, defined largely by its proximity to the Great South Bay and the Fire Island ferry terminals. The neighborhood features a walkable downtown area along Main Street, anchored by major institutions like Southside Hospital, part of the Northwell Health system, which provides a steady employment base. Recent revitalization efforts have enhanced the waterfront and transit-oriented developments near the Long Island Rail Road station, making it a practical hub for commuters working in Manhattan or elsewhere on Long Island.
From a purely numerical standpoint, the spread between HUD limits and market reality is the critical metric. The FY2026 Fair Market Rent (FMR) for a 2-bedroom unit is $2,450, whereas current market rents (Zillow ZORI) sit significantly higher at $2,786, leaving a gap of $336 that landlords must absorb if renting to voucher holders. Median home values stand at $620,293, with a specific median 2BR sales price of $552,514, indicating a substantial capital requirement. Properties are moving relatively quickly, with a median days on market of 33 days, signaling active demand from the general buyer pool.
The tenant profile in 11706 is characterized by strong economic fundamentals, with a median household income of $119,603, yet the renter share is only 25.0%. This lower rental concentration suggests a stable, owner-occupied environment rather than a transient district. Families are drawn to the area for educational options, including the highly-rated Bay Shore High School and the proximity to Sagtikos Manor parkland. For voucher holders, the high median income implies a competitive market where affordable units are scarce, potentially driving higher demand for Section 8 openings despite the rent gap.
Investors should view Bay Shore as an appreciation and stability play rather than a cash-flow machine. The $336 monthly shortfall between market rent and the 2BR FMR makes strict cash-flow difficult without significant equity or lower acquisition costs. However, the high median home values and quick 33-day turnover indicate robust asset appreciation potential. The strongest angle here is buying into a high-demand, affluent commuter hub where the long-term asset growth likely outweighs the immediate yield constraints of the voucher program.
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.