Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,980 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,710 |
| 3 Bedrooms | $3,490 |
| 4 Bedrooms | $3,700 |
| 5 Bedrooms | $4,292 |
| 6 Bedrooms | $4,807 |
| 7 Bedrooms | $5,192 |
| 8 Bedrooms | $5,452 |
The Section 8 market in ZIP code 11773, part of the Nassau-Suffolk County, Nassau-Suffolk, NY HUD Metro FMR Area, is defined by the Federal Market Rent (FMR) set at $2550 for fiscal year 2024. This figure serves as the benchmark for landlords and small-portfolio investors considering voucher tenants. However, the lack of available market rent data makes it challenging to directly compare the FMR against current rental rates.
Despite the absence of precise market rent figures, the HUD FMR of $2550 can be used to assess the potential cash flow from voucher tenants. In the absence of specific market data, we must assume that landlords will experience marginal cash flow at best. Voucher amounts often lag behind market rents, particularly in areas with strong demand, which could mean that landlords might need to rely on premium units or strategic property management to ensure positive cash flow.
The median home value data is also unavailable for ZIP 11773, preventing us from calculating an exact rent-to-price ratio. Nonetheless, the typical behavior of housing markets in similar regions suggests that the rent-to-price ratio would likely indicate a healthy balance between rental income and home values, supporting the idea that investing in this area could offer a stable long-term return.
The dynamics of the local real estate market are further obscured by the unavailability of median days on market (DOM) and the percentage of homes that experience price cuts. These metrics are crucial for understanding the broader context of the rent-versus-buy decision-making process among potential homeowners. Without these specifics, it's difficult to gauge how competitive rentals are compared to home purchases.
In conclusion, while the HUD FMR of $2550 provides a clear starting point for Section 8 investments, the strength of the cash flow will depend heavily on the specific unit and location. The most compelling angle for investors in ZIP 11773 is the potential for stability, given the established nature of the HUD program and the likelihood of consistent tenant support through federal vouchers.
Data Sources: FMR data from HUD (2027).
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.