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 | $1,910 |
| 1 Bedroom | $2,220 |
| 2 Bedrooms | $2,610 |
| 3 Bedrooms | $3,360 |
| 4 Bedrooms | $3,560 |
| 5 Bedrooms | $4,130 |
| 6 Bedrooms | $4,626 |
| 7 Bedrooms | $4,996 |
| 8 Bedrooms | $5,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,610 | $582,449 | 0.45% | F |
| 3BR | $3,360 | $735,560 | 0.46% | F |
| 4BR | $3,560 | $853,987 | 0.42% | F |
| 5BR | $4,130 | $915,446 | 0.45% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 11767, Nesconset, NY, stands at $152,985. At first glance, this figure suggests that households have a strong financial standing. However, the market rate for rent, which is $2,254 according to Census ACS data, represents a significant portion of their income. To put this into perspective, a household would spend approximately 18% of its annual income on rent alone if they were renting at the market rate.
When comparing this to the Fair Market Rent (FMR) set at $2,670 for zip code 11767 in fiscal year 2024, it becomes evident that even with a Section 8 voucher, the cost of housing remains high. The voucher payment standard is designed to cover the cost of rent up to the FMR, meaning that tenants with vouchers could theoretically pay a lower share of their income towards rent. However, the FMR is higher than the market rate, indicating that landlords might not see a substantial difference between accepting voucher payments and receiving rent directly from tenants without vouchers.
In ZIP 11767, only 8.8% of the total population of 14,964 are renters. This low percentage of renters implies a limited pool of potential tenants, which can lead to increased competition among landlords. Given the high cost of living relative to income, landlords must consider how to attract tenants effectively. For those considering voucher vs. cash-pay strategies, the key is understanding the local demand and the willingness of renters to use vouchers.
The takeaway for landlords is that while the median income is relatively high, the affordability gap means that many potential tenants may rely on assistance programs such as Section 8 vouchers. Landlords should be prepared to evaluate the benefits and drawbacks of accepting vouchers, including the administrative processes involved. In a competitive market with a smaller tenant pool, being flexible with payment options could be advantageous. However, given the closeness of the FMR to the market rate, the financial impact of accepting vouchers may not be as significant as in areas with lower incomes or higher rental costs.
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.