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 | $1,990 |
| 1 Bedroom | $2,310 |
| 2 Bedrooms | $2,720 |
| 3 Bedrooms | $3,500 |
| 4 Bedrooms | $3,710 |
| 5 Bedrooms | $4,304 |
| 6 Bedrooms | $4,820 |
| 7 Bedrooms | $5,206 |
| 8 Bedrooms | $5,466 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,500 | $681,860 | 0.51% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 11955 in fiscal year 2024 is set at $2,400. This figure represents the payment standard for Section 8 vouchers in your area, meaning that if you choose to participate in the program, the Housing Authority will pay up to this amount on behalf of eligible tenants. It's important to note that this is not the rent you can charge; it's the maximum reimbursement you'll receive.
In comparison, the local median rent for a two-bedroom apartment in ZIP 11955 is currently at $2,475, according to the Zip Oracle Rental Index (ZORI). This suggests that the market rents slightly exceed the Section 8 payment standard, indicating that landlords might need to adjust their expectations for rental income.
The 53.0% renter share in ZIP 11955 shows a significant portion of the population is already renting, which can translate into a strong demand for rental properties. However, landlords should be aware that participating in Section 8 requires a commitment to maintaining their property to certain standards and undergoing regular inspections.
Acquiring a property in this ZIP code could cost around $623,227, based on recent real estate data. This figure represents the typical price range for a suitable investment property. Before making any purchase, it is crucial to verify the condition of the property to ensure it meets the necessary requirements for Section 8 participation, thus avoiding costly renovations post-acquisition.
To summarize, while the FMR of $2,400 provides a baseline for reimbursement, the actual rent you can charge may be higher, but it must still be reasonable and comparable to other similar units in the area. The strong renter share indicates potential demand, yet the acquisition cost highlights the financial commitment required. Ensure the property is in good condition to meet the program's criteria and avoid unexpected expenses.
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.