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 | $2,810 |
| 1 Bedroom | $3,270 |
| 2 Bedrooms | $3,850 |
| 3 Bedrooms | $4,950 |
| 4 Bedrooms | $5,260 |
| 5 Bedrooms | $6,102 |
| 6 Bedrooms | $6,834 |
| 7 Bedrooms | $7,381 |
| 8 Bedrooms | $7,750 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,850 | $567,664 | 0.68% | D |
| 3BR | $4,950 | $729,811 | 0.68% | D |
| 4BR | $5,260 | $849,178 | 0.62% | D |
| 5BR | $6,102 | $1,039,761 | 0.59% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 11766, located in Mount Sinai, NY, hinges on analyzing its yield and stability metrics. For yield, we compare the Fair Market Rent (FMR) of $3450 set by the government for fiscal year 2024 against the market rent of $3,088. This indicates that properties receiving Section 8 subsidies can command rents nearly $362 higher than the local market average. Given the median home value of $754,454, the rental income potential from Section 8 is relatively modest compared to the property values.
On the stability axis, the data reveals that only 7.5% of the population are renters, which suggests a low demand for rental properties overall. The lack of information on days on market (DOM) implies either insufficient data or that rental listings are infrequent, both of which contribute to uncertainty about the speed at which units can be leased. However, the median household income of $153,235 is quite robust, indicating a strong financial base among residents that could support rental payments and reduce default risk.
Based on these figures, ZIP 11766 leans towards being a steady-cashflow zone. While it offers a decent yield due to the subsidy difference, the low percentage of renters and robust income levels suggest a stable environment where defaults are less likely. The higher FMR compared to market rates ensures that landlords can secure a consistent cash flow without the volatility often associated with flipping properties in areas with fluctuating rental demands. Investors should focus on long-term, low-risk strategies given the limited rental market but favorable income conditions.
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.