Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
In evaluating whether to purchase a property in ZIP code 11770 for Section 8 purposes, follow this decision tree:
Step 1: Determine if the Fair Market Rent (FMR) of $2,280 can cover the debt service on a $1,413,993 property. The FMR is the maximum amount that HUD will pay for rental housing in a specific area. If the debt service, which includes mortgage payments and other financing costs, exceeds $2,280 per month, then the answer is no. You must calculate your total monthly debt service to make this determination.
Step 2: Compare the FMR to the market rent. In ZIP 11770, the market rent is not available. Without this information, you cannot assess whether the FMR is above, at, or below market rates. If the market rent were available and significantly higher than the FMR, it would suggest that Section 8 properties might be less competitive in attracting tenants. Conversely, if market rent is close to or below the FMR, it indicates that Section 8 properties could be competitive.
Step 3: Evaluate the demand for rental properties. In ZIP 11770, 36.4% of residents are renters, indicating a moderate level of rental demand. However, the Days on Market (DOM) for rental listings is not available, which makes it difficult to gauge how quickly rental units are typically filled. If the DOM were long, it would imply low demand; if short, high demand. Given the available data, the answer is "it depends." A higher percentage of renters suggests potential demand, but without knowing the DOM, you cannot fully assess the speed at which properties are leased.
If the FMR does not cover debt service, do not proceed with the purchase. If the FMR covers debt service and market rent is below or equal to the FMR, consider purchasing if the rental demand is strong. If the market rent is significantly higher than the FMR, reconsider unless you can find a way to reduce operating costs to meet the FMR. With only partial data on DOM, you must rely on other local market indicators to inform your decision about rental demand.
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.