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 | $1,820 |
| 1 Bedroom | $2,170 |
| 2 Bedrooms | $2,510 |
| 3 Bedrooms | $3,250 |
| 4 Bedrooms | $3,430 |
| 5 Bedrooms | $3,979 |
| 6 Bedrooms | $4,456 |
| 7 Bedrooms | $4,812 |
| 8 Bedrooms | $5,053 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,510 | $494,435 | 0.51% | F |
| 3BR | $3,250 | $677,783 | 0.48% | F |
| 4BR | $3,430 | $834,540 | 0.41% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 11933, located in Calverton, NY, within the Nassau-Suffolk, NY HUD Metro FMR Area, does not work favorably for landlords. The Fair Market Rent (FMR) set at $2,810 for fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $1,954. This discrepancy suggests that landlords aiming to charge FMR rates will face challenges in finding tenants willing to pay the higher amount.
Acquisition in this area is moderately affordable. The median home value is $628,826, indicating that purchasing properties here is within reach for many investors. However, the lack of data on days on market (DOM) and the low percentage of homes experiencing price cuts (0.1%) suggest a stable but not highly dynamic market. Landlords should expect competition and a need to offer homes at close to their appraised values.
Tenant demand in ZIP 11933 is relatively low. With a total population of 6,693 and only 16.0% of residents being renters, the pool of potential tenants is limited. This makes it crucial for landlords to ensure their rental offerings are competitive in terms of both price and amenities to attract and retain tenants.
Verdict: While acquisition costs in ZIP 11933 are manageable, the mismatch between FMR and market rents, coupled with low tenant demand, presents significant hurdles for landlords and small-portfolio investors. To succeed, they must price rentals closer to the market rate of $1,954 and be prepared to cater to a smaller pool of potential renters. This area requires careful consideration and strategic planning to ensure profitability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.