Section 8 Fair Market Rent (FMR) for ZIP 11801 - 2027

Investment Score for ZIP 11801

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,580
1 Bedroom	$3,000
2 Bedrooms	$3,530
3 Bedrooms	$4,540
4 Bedrooms	$4,820
5 Bedrooms	$5,591
6 Bedrooms	$6,262
7 Bedrooms	$6,763
8 Bedrooms	$7,101

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$3,530	$700,433	0.5%	F
3BR	$4,540	$790,306	0.57%	F
4BR	$4,820	$821,132	0.59%	F
5BR	$5,591	$918,635	0.61%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 11801 (Hicksville, NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 11801, as per the 2026 guidelines, is set at $3470 for a two-bedroom apartment. This amount represents 28.6% of the median household income of $145,788, indicating that it is a relatively affordable rent for those eligible for Section 8 vouchers. However, the actual rental market in Hicksville is significantly higher. The Zillow median price for a two-bedroom home is $674,430, which translates to a price-to-FMR ratio of 16.2 times. This means that landlords who participate in the Section 8 program would need to charge a rent that is much lower than the market rate, potentially limiting their pool of tenants to only those who can afford the subsidized rent. For voucher holders, the constraint lies in finding landlords willing to accept the lower rent stipulated by the FMR, which is far below the market average. #### Affordability & Renter Profile Only 15.0% of the population in Hicksville are renters, suggesting that the majority of residents own their homes. With a median household income of $145,788, the typical resident has a high earning capacity, making it likely that most renters are also financially stable individuals. The occupancy rate of 98.4% indicates that there is little vacancy in the housing market, implying a tight rental market where demand outstrips supply. Given the high median income and low percentage of renters, it is reasonable to assume that the rental market is highly competitive and that landlords can command premium rents. Therefore, the FMR of $3470 for a two-bedroom unit is well below what the market can bear, making it challenging for voucher holders to find suitable accommodation. #### Investor Angle From an investor’s perspective, participating in the Section 8 program in ZIP code 11801 could be challenging due to the significant disparity between the FMR and the market rent. The FMR for a two-bedroom unit is $3470, while the Zillow median price suggests a market rent closer to $41,500 annually ($674,430 divided by 16.2). This implies that landlords would have to accept a rent that is less than 10% of the potential market value. Given the high cost of property acquisition and maintenance in this area, it is unlikely that an investment property would generate positive cash flow at the FMR level. The investment grade for properties in ZIP code 11801 is likely to be low for Section 8-focused investors. The primary reason is the limited ability to attract tenants who can pay the full market rent, coupled with the low subsidy rates that do not cover the true cost of renting in this area. Additionally, the high median income and tight rental market suggest that there is a strong preference for homeownership, further reducing the pool of potential Section 8 tenants. #### Specific Actionable Insights 1. **Focus on Owner-Occupied Properties**: Given the high median income and preference for homeownership, investors should consider purchasing properties for owner-occupied use rather than relying solely on rental income. This strategy would allow them to benefit from the appreciation of property values in a high-income area. 2. **Seek Non-Section 8 Tenants**: Investors looking to maximize returns should target non-Section 8 tenants who can afford the full market rent. The FMR of $3470 for a two-bedroom unit is only a fraction of what the market can support, and securing tenants who can pay closer to the Zillow median price would provide a more sustainable financial position. 3. **Evaluate Property Value Appreciation**: Given the high median income and tight rental market, there is a strong likelihood that property values will continue to appreciate. Investors should evaluate the long-term potential of their investments based on expected capital gains rather than short-term rental income. #### Bottom Line For Section 8-focused investors, the recommendation is to **skip** ZIP code 11801. The FMR is too low relative to the market rent, and the tight rental market makes it difficult to find tenants who can utilize the vouchers effectively. Instead, investors should look for areas with a higher percentage of renters and a more balanced rental market. Alternatively, they could focus on owner-occupied properties in Hicksville to benefit from the strong property value appreciation in this high-income area.

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.