Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,960 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,690 |
| 3 Bedrooms | $3,460 |
| 4 Bedrooms | $3,670 |
| 5 Bedrooms | $4,257 |
| 6 Bedrooms | $4,768 |
| 7 Bedrooms | $5,149 |
| 8 Bedrooms | $5,406 |
U.S. Census Bureau data (2024)
ZIP code 11780, located in Saint James, New York, stands out in Suffolk County due to several key factors. With a population of 15,018, it has a relatively low rental rate at 12.6%, indicating that most residents own their homes. The median household income in this area is $144,577, which is significantly higher than the national average. Additionally, the median home value of $826,754 underscores the affluence of the community.
The economics of Section 8 vouchers in ZIP 11780 present an interesting scenario. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,450, while the Census ACS indicates a market rent of $2,316. This suggests that landlords participating in the Section 8 program can expect slightly higher rents compared to the local market, potentially making it a favorable option for those seeking to manage properties in this area.
Based on the data signature, ZIP 11780 appears to be a stable community with high property values and income levels. The relatively low rental rate and high median income indicate a strong preference for homeownership among residents. This stability is likely to continue, given the economic indicators and the limited number of renters. Landlords and small-portfolio investors should consider these factors when deciding whether to participate in the Section 8 program or focus on other investment opportunities in this ZIP code.
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.