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 | $1,880 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,570 |
| 3 Bedrooms | $3,310 |
| 4 Bedrooms | $3,510 |
| 5 Bedrooms | $4,072 |
| 6 Bedrooms | $4,561 |
| 7 Bedrooms | $4,926 |
| 8 Bedrooms | $5,172 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,180 | $444,226 | 0.49% | F |
| 2BR | $2,570 | $524,217 | 0.49% | F |
| 3BR | $3,310 | $665,673 | 0.5% | F |
| 4BR | $3,510 | $815,626 | 0.43% | F |
| 5BR | $4,072 | $901,419 | 0.45% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 11901 (Riverhead, NY) works out favorably for landlords and small-portfolio investors. The Fair Market Rent (FMR) set at $2200 for the fiscal year 2024 aligns closely with the market rent reported by the Census ACS, which stands at $2,196. This indicates that the rental rates are in line with what HUD deems fair, making it easier to justify rent prices to tenants.
Acquisition in Riverhead is moderately affordable. With a median home value of $635,395, purchasing properties can be feasible for investors willing to commit capital. However, the lack of data on days on market (DOM) and the low percentage of homes needing price cuts (0.1%) suggest a stable market where homes do not typically sell quickly or require significant discounts. This stability can be seen as positive for long-term investment but might indicate slower turnover rates for those looking to buy and sell rapidly.
Tenant demand in Riverhead is strong. The area has a population of 33,091, with 29.8% of residents being renters. This sizable renter base ensures a consistent pool of potential tenants, reducing the risk of vacancies. Given the population size and the high renter share, landlords can expect steady interest in their properties.
Verdict: ZIP 11901 presents a balanced opportunity for real estate investment. The rent math is favorable, tenant demand is robust, and while acquisition costs are moderate, the stability of the housing market provides assurance for long-term investments. Landlords and small-portfolio investors can confidently operate in this market, leveraging the alignment between FMR and market rents to attract and retain tenants effectively.
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.