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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,480 | $559,373 | 0.44% | F |
| 3BR | $3,210 | $672,964 | 0.48% | F |
| 4BR | $3,400 | $738,927 | 0.46% | F |
| 5BR | $3,944 | $776,797 | 0.51% | F |
U.S. Census Bureau data (2024)
The rental market in ZIP code 11729, Deer Park, NY, reflects a dynamic equilibrium between supply and demand, leaning slightly towards a scenario where demand outpaces supply. The Fair Market Rent (FMR) set at $2,170 for the fiscal year 2024 indicates a government benchmark that landlords can use to gauge the viability of their rental properties. This figure is notably higher than the market rent of $1,928, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy suggests that while the government aims to support affordable housing, the actual rental prices might be lower due to market forces.
The low price-cut share of 0.1% implies that most landlords are maintaining their rental rates without significant reductions, indicating a relatively stable market. However, the lack of data on days on market (DOM) prevents a definitive conclusion on how quickly units are being leased. Despite this, the median home value of $639,019 points to a residential property market that is robust, likely attracting buyers who see potential in the area's growth and stability.
A key indicator of long-term housing pressure is the 16.2% renter share, which is a fraction of the total population living in rented accommodations. This figure suggests that a considerable portion of residents prefer or are compelled to rent rather than buy. Such a trend could exert continuous pressure on rental prices, as demand for rental units remains steady or grows over time. For landlords and small-portfolio investors, this implies a consistent tenant pool, reducing the risk of prolonged vacancies.
In summary, Deer Park's rental market appears to be in a state of flux, with demand potentially exceeding supply. The presence of a significant renter population signals enduring pressure on the rental sector, making it a viable investment opportunity for those looking to enter or expand their holdings in the area. Landlords should keep an eye on local trends and adjust their strategies accordingly to remain competitive and profitable.
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.