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 | $1,800 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,210 | $829,484 | 0.39% | F |
| 4BR | $3,400 | $984,901 | 0.35% | F |
| 5BR | $3,944 | $1,144,787 | 0.34% | F |
U.S. Census Bureau data (2024)
A landlord considering purchasing a property in ZIP code 11709 for Section 8 investment must evaluate several key factors to make an informed decision. The following decision tree will guide you through the process:
1) Does the Fair Market Rent (FMR) of $2370 cover the debt service on a $841,723 property?
To determine if the FMR can cover the debt service, we first need to calculate the monthly mortgage payment based on typical financing terms. Assuming a 30-year fixed-rate mortgage with an interest rate of 5%, the monthly mortgage payment would be approximately $4,440. Given that the FMR is $2370, it does not cover the debt service. Therefore, the answer to this question is No. A property with such a high purchase price would not be viable under Section 8 solely based on the FMR.
2) Is the market rent of $2,127 (from Census ACS) above, at, or below the FMR?
The market rent of $2,127 is below the FMR of $2370. This means that the market rent does not exceed the FMR, which is another negative indicator for Section 8 viability. Even though the market rent is lower than the FMR, it still does not provide enough income to cover the debt service of $4,440 per month. Thus, the answer to this question is also No.
3) Are 13.1% renters and N/A-day days on market (DOM) sufficient demand for Section 8 properties?
The percentage of renters in the area is 13.1%. However, the lack of data on days on market (DOM) makes it difficult to assess the overall demand for rental properties. In general, a higher percentage of renters suggests greater demand, but without knowing the DOM, it's challenging to determine how quickly properties are rented out. Therefore, the answer to this question is It Depends. While there is some indication of demand, the absence of DOM data leaves uncertainty about the speed of turnover and potential vacancy rates.
In conclusion, based on the provided data, ZIP code 11709 does not appear to be a strong candidate for Section 8 investment due to the inability of both the FMR and market rent to cover the debt service on a property valued at $841,723. The presence of some renters does suggest demand, but further investigation into the DOM and other market conditions is necessary before making a final decision.
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.