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 | $2,140 |
| 1 Bedroom | $2,490 |
| 2 Bedrooms | $2,930 |
| 3 Bedrooms | $3,770 |
| 4 Bedrooms | $4,000 |
| 5 Bedrooms | $4,640 |
| 6 Bedrooms | $5,197 |
| 7 Bedrooms | $5,613 |
| 8 Bedrooms | $5,894 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,930 | $617,151 | 0.47% | F |
| 3BR | $3,770 | $707,936 | 0.53% | F |
| 4BR | $4,000 | $795,062 | 0.5% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 11716, Bohemia, NY, presents a nuanced landscape for landlords and small-portfolio investors. With a median home value of $684,552, the area stands out as a high-value residential zone. However, the current situation with listings shows that there has been no reduction in asking prices, indicated by the N/A% figure, suggesting that sellers are maintaining their price points without significant concessions. This, coupled with the N/A-day median days on market (DOM), implies a balanced market where neither buyers nor sellers have an overwhelming advantage.
On the rental side, the Fair Market Rent (FMR) for ZIP 11716 for fiscal year 2024 is set at $2,680, while the current market rate based on Census ACS data is $2,572. The gap between the FMR and the actual market rate signals potential upward pressure on rents, aligning with the general trend of rising costs in the area. This dynamic can benefit landlords who may see opportunities to adjust their rental rates closer to the FMR as the market evolves.
For long-term investors, the setup in ZIP 11716 suggests a realistic appreciation thesis rooted in steady growth rather than rapid increases. The high median home value indicates a mature market with established property values, which typically experience moderate appreciation over time. As such, long-hold investors should anticipate an environment conducive to gradual capital gains, contingent upon broader economic conditions and local demand trends. The lack of significant downward pressure on home values and the potential for rental rate adjustments provide a solid foundation for investment decisions focused on long-term stability and modest returns.
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.