Section 8 Fair Market Rent (FMR) for ZIP 11764 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 11764

• 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

A landlord considering investing in ZIP code 11764 for Section 8 properties must follow a structured decision-making process based on financial metrics and market conditions. Here's how to approach the question "Should I buy here for Section 8?"

Step 1: Evaluate if the Fair Market Rent (FMR) of $2660 can cover the debt service on a property valued at $719,471.

• If the debt service is less than $2660 per month, then the answer is Yes. The FMR provides sufficient income to meet mortgage obligations and other expenses associated with property ownership.
• If the debt service exceeds $2660 per month, then the answer is No. The FMR would not be adequate to support the financial burden of owning the property.

Step 2: Compare the market rent of $1,171 against the FMR to determine if there is a premium or discount.

• If the market rent is above $2660, then the answer is It Depends. While the property could potentially command higher rents from non-Section 8 tenants, it does not affect the eligibility for Section 8 subsidies directly. Landlords need to consider whether they want to cater exclusively to Section 8 tenants or seek a broader rental market.
• If the market rent is at or below $2660, then the answer is Yes. This indicates that the FMR is competitive with market rates, making Section 8 an attractive option for both affordability and stability.

Step 3: Assess the demand for rental properties by looking at the percentage of renters (16.9%) and the number of days on the market (DOM).

• If the DOM is low, indicating quick turnover of rental listings, and the renter percentage is high, then the answer is Yes. There is a strong demand for rental units, which supports the viability of Section 8 properties in the area.
• If the DOM is high, suggesting slow turnover of rental listings, then the answer is No. High DOM values indicate weak demand, making it difficult to fill vacancies even with Section 8 subsidies.
• If the DOM data is not available, then the answer is It Depends. Without DOM information, the decision hinges on the 16.9% renter population and other qualitative factors such as neighborhood desirability and competition from other landlords.

The decision tree outlined above provides a clear framework for evaluating the potential of ZIP 11764 for Section 8 investments. It relies on the given data points to guide landlords and small-portfolio investors toward informed decisions.

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.