Section 8 Fair Market Rent (FMR) for ZIP 11724 - 2027
Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,330 |
| 1 Bedroom | $2,700 |
| 2 Bedrooms | $3,180 |
| 3 Bedrooms | $4,090 |
| 4 Bedrooms | $4,340 |
| 5 Bedrooms | $5,034 |
| 6 Bedrooms | $5,638 |
| 7 Bedrooms | $6,089 |
| 8 Bedrooms | $6,393 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$250,001
Housing Authorities Serving ZIP 11724
- Town of Islip Housing Authority (Oakdale, NY) - 1,465 Section 8 vouchers
- Town of Brookhaven Dept. of Hsg & Comm Dev (Farmingville, NY) - 1,053 Section 8 vouchers
- Town of Babylon (North Babylon, NY) - 894 Section 8 vouchers
- Town of Huntington Housing Authority (Huntington Station, NY) - 573 Section 8 vouchers
- Town of Southampton (Southampton, NY) - 326 Section 8 vouchers
- North Fork Hsg Alliance Inc (Greenport, NY) - 289 Section 8 vouchers
- Riverhead Housing Development Corproration (Riverhead, NY) - 200 Section 8 vouchers
- Town of East Hampton (East Hampton, NY) - 193 Section 8 vouchers
- Village of Patchogue CDA (Patchogue, NY) - 177 Section 8 vouchers
- Community Development Corp of Long Island (Melville, NY) - 125 Section 8 vouchers
When evaluating whether to purchase a property in ZIP code 11724 for Section 8 purposes, follow this decision tree:
- Does FMR $3610 (ZIP FY 2024) clear debt service on a $1,707,395 property?
- If your property's debt service is less than $3610 per month, then the answer is Yes. This means the Fair Market Rent (FMR) can cover your monthly mortgage payments.
- If your property's debt service exceeds $3610 per month, then the answer is No. The FMR will not be sufficient to cover your monthly expenses.
- Is market rent N/A (N/A) above, at, or below FMR?
- The data indicates that the market rent is not available for ZIP 11724. Without this information, you cannot determine if the market rent is competitive with the FMR. Therefore, the answer is It Depends. You will need to conduct additional research to find out the local market rent.
- Are 7.3% renters + N/A-day DOM enough demand?
- The percentage of renters in ZIP 11724 is 7.3%, but the days on market (DOM) is not available. A higher percentage of renters generally suggests more demand, but without knowing the DOM, it is difficult to assess how quickly properties are being rented. Thus, the answer is It Depends. You must gather more information about the rental market speed to make an informed decision.
Based on the given data, the primary gating question is whether the FMR can cover your debt service. If it does, proceed to investigate the market rent and rental demand further. If the FMR does not cover your debt service, purchasing in ZIP 11724 would not be advisable for Section 8 purposes.
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.