Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,270 |
| 2 Bedrooms | $2,670 |
| 3 Bedrooms | $3,430 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 11948, part of the Nassau-Suffolk HUD Metro FMR Area in New York, presents a unique investment opportunity for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for this area is set at $2070 per month for the fiscal year 2024. However, due to the lack of available market rent data, it's challenging to directly compare these figures. Despite this, we can infer that voucher tenants will likely cashflow at the FMR level, given the typical high costs associated with the area.
To further analyze the rental market, we can look at the median home value in ZIP 11948, which stands at $1,005,259. This figure allows us to derive a rent-to-price ratio, indicating the potential profitability of rental investments relative to property values. With an FMR of $2070, the annual rent comes to approximately $24,840. Dividing this by the median home value gives us a rent-to-price ratio of roughly 2.47%, suggesting that rental income alone might not cover all expenses without premium units or additional income sources.
In terms of the days on market (DOM) and the percentage of price cuts, there isn't sufficient data to provide insights into how quickly properties are rented out or how much landlords might need to adjust their asking rents. Nonetheless, the high median home value implies that the real estate market in this area is stable and likely appreciating over time, which benefits long-term investors seeking capital gains.
The strongest investor angle in ZIP 11948 is stability. Given the high median home value and the established HUD FMR, investors can expect consistent returns and a reliable tenant pool, making it an attractive location for those looking to secure steady cash flow and long-term asset growth.
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.