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 | $2,200 |
| 1 Bedroom | $2,560 |
| 2 Bedrooms | $3,010 |
| 3 Bedrooms | $3,870 |
| 4 Bedrooms | $4,110 |
| 5 Bedrooms | $4,768 |
| 6 Bedrooms | $5,340 |
| 7 Bedrooms | $5,767 |
| 8 Bedrooms | $6,055 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,010 | $404,138 | 0.74% | D |
| 3BR | $3,870 | $583,338 | 0.66% | D |
| 4BR | $4,110 | $653,502 | 0.63% | D |
| 5BR | $4,768 | $683,212 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 11727, located in Coram, NY, presents an interesting scenario for both renters and landlords alike. The median household income in this area stands at $103,287, which is a significant figure. However, when compared to the market rate for rent, which is set at $2,985 (ZORI), it becomes evident that there is a notable affordability gap. This means that even with a relatively high median income, households might find it challenging to meet the market rate without financial strain.
To put this into perspective, let's consider the housing voucher payment standard, which is set at $2,830 (FMR zip FY 2024). This amount is slightly lower than the ZORI but still represents a substantial monthly expense. Given the population of 28,495 and the fact that 32.5% of residents are renters, the competition among landlords for tenants willing to pay the market rate could be fierce. Renters are likely to seek out the best value for their money, and the difference between the market rate and the voucher rate highlights the potential challenges in attracting tenants who can afford to pay cash.
The affordability gap suggests that landlords might face difficulties in filling units at the full market rate. It also implies that tenants receiving vouchers could play a crucial role in the rental market, especially if they represent a significant portion of the rental pool. Landlords should be aware that while accepting vouchers can ensure consistent, government-backed payments, it may also limit the rentable price point to the FMR level.
Takeaway for landlords: In ZIP 11727, there is a clear preference for strategies that balance the acceptance of vouchers with efforts to attract higher-paying cash tenants. Given the high median income and the competitive nature of the rental market, landlords should consider offering incentives or amenities that make their properties stand out. At the same time, being open to working with housing vouchers can provide a steady stream of income and help fill vacancies in a challenging economic environment.
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.