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 | $2,210 |
| 1 Bedroom | $2,570 |
| 2 Bedrooms | $3,030 |
| 3 Bedrooms | $3,890 |
| 4 Bedrooms | $4,130 |
| 5 Bedrooms | $4,791 |
| 6 Bedrooms | $5,366 |
| 7 Bedrooms | $5,795 |
| 8 Bedrooms | $6,085 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,890 | $984,880 | 0.39% | F |
| 4BR | $4,130 | $1,132,388 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 11804 encompasses a high-end residential area primarily characterized by its affluent demographic. With a total population of 4,835, the neighborhood is predominantly owned, with only 10.3% of residents renting their homes. This statistic underscores the exclusivity of the area, where the median household income stands at a robust $190,469. The median home value in 11804 is even more impressive, sitting at $1,001,821, which places it firmly in the luxury segment of the real estate market.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 11804 is set at $2,850 for the fiscal year 2024. However, the lack of specific market rent data indicates a limited presence of rental properties in this zip code, suggesting that the majority of the housing stock is owner-occupied. This scarcity of rental units could mean higher competition for tenants, especially those seeking to utilize Section 8 vouchers.
Given these economic conditions, 11804 would likely be a challenging environment for a hands-off voucher operator. The high cost of living and the premium nature of the housing stock may deter many Section 8 tenants, who often face strict income limitations. On the other hand, a hands-on value-add buyer might find opportunities to improve and manage properties in a way that attracts a niche market willing to pay higher rents or to work with the Section 8 program's guidelines. Such an investor would need to be prepared to engage actively in property management and possibly renovate units to meet the expectations of this upscale zip code.
In conclusion, while the high median income and home values indicate a wealthy community, the low percentage of renters and the absence of detailed market rent data suggest that the neighborhood is not densely populated with rental opportunities. For a Section 8 investor, this ZIP code requires a strategic approach, favoring active management over passive ownership due to the unique characteristics of the local real estate market.
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.