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 | $2,000 |
| 1 Bedroom | $2,330 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,520 | $764,030 | 0.46% | F |
| 4BR | $3,740 | $861,236 | 0.43% | F |
| 5BR | $4,338 | $989,216 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 11731 stands out due to its unique demographic and economic characteristics. With a population of nearly 30,000 residents, only 9.6% of whom rent their homes, this area has a strong homeownership trend. The median income in ZIP 11731 is $161,132, which is significantly higher than the national average, indicating a relatively affluent community. The median home value is even more impressive at $748,863, reflecting the high cost of living and property values in the region.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 11731 is set at $2,680 for fiscal year 2024, which is notably above the current market rent of $2,412 according to Census ACS data. This discrepancy suggests that landlords accepting Section 8 vouchers could potentially see a slight increase in rental income compared to market rates, making the program somewhat more attractive in this ZIP code.
The data signature for ZIP 11731 reads as stable. The high median income and median home value indicate a consistent economic environment where most residents can afford to purchase homes. The low percentage of renters also supports this stability, as there is less fluctuation in the rental market. However, the slightly elevated FMR compared to market rents could be an indicator of transitional dynamics, but overall, the economic indicators point towards a stable investment climate for landlords and small-portfolio investors.
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.