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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,760 | $488,847 | 0.56% | F |
| 3BR | $3,550 | $579,059 | 0.61% | D |
| 4BR | $3,770 | $623,077 | 0.61% | D |
| 5BR | $4,373 | $683,048 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 11722, located in Central Islip, NY, presents a dynamic rental market that is currently experiencing shifts indicative of either balanced or slightly supply-constrained conditions. The Fair Market Rent (FMR) for ZIP 11722 stands at $2,500 for fiscal year 2024, while the average market rent, according to the Census American Community Survey (ACS), is $2,055. This discrepancy suggests that there may be upward pressure on rents, as landlords aim to align their rental prices with the FMR set by HUD.
A key indicator of market dynamics is the price-cut share, which is a mere 0.1%. This low figure implies that landlords are generally not reducing their asking rents, indicating a market where demand is keeping pace with or possibly exceeding supply. However, the absence of data on days on market (DOM) prevents a definitive conclusion on the speed at which properties are being rented, leaving room for further analysis.
The median home value in ZIP 11722 is $546,543, reflecting the overall housing market's valuation. Given that 21.8% of residents are renters, this ZIP code also exhibits a significant long-term housing pressure. A higher renter share often points to areas where homeownership is less attainable due to financial constraints or other barriers. In such markets, the demand for rental properties tends to remain robust, as many individuals and families continue to seek affordable housing options.
In summary, ZIP 11722 appears to be a market where demand is strong enough to support rental prices, with limited instances of landlords needing to lower their rates to attract tenants. The presence of a substantial renter population indicates ongoing pressure on the rental market, which could sustain current rent levels or even lead to modest increases if new supply does not adequately meet the growing need for rental units. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns and risks associated with this ZIP code.
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.