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 | $1,800 |
| 1 Bedroom | $2,150 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,210 |
| 4 Bedrooms | $3,400 |
| 5 Bedrooms | $3,944 |
| 6 Bedrooms | $4,417 |
| 7 Bedrooms | $4,770 |
| 8 Bedrooms | $5,009 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,150 | $266,562 | 0.81% | C |
| 2BR | $2,480 | $430,136 | 0.58% | F |
| 3BR | $3,210 | $585,107 | 0.55% | F |
| 4BR | $3,400 | $712,280 | 0.48% | F |
U.S. Census Bureau data (2024)
2230 is the Fair Market Rent (FMR) for ZIP code 11961 in Ridge, NY, for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher in the area. In comparison, the market rent, according to the Census ACS, stands at 2044 dollars, indicating that the FMR is slightly higher, which could benefit landlords participating in the program. The median home value in the area is 503,916 dollars, reflecting a relatively stable housing market. However, only 10.6% of residents are renters, suggesting a smaller pool of potential tenants who might rely on Section 8 vouchers. The median income in the area is 76,216 dollars, which is an important metric for determining the eligibility of applicants for Section 8 assistance. Despite the lack of specific data on days on market (DOM), the low price-cut share of 0.1% indicates that homes in this area are generally selling at their listed prices without significant reductions. Given these factors, the investment climate for Section 8 properties in Ridge, NY, appears favorable due to the higher FMR compared to market rents and the stability indicated by the median home value and price-cut share.
The slightly elevated FMR over the market rent suggests a positive margin for landlords. With the median home value being 503,916 dollars, it's clear that the real estate in this area is appreciating, which could provide additional benefits for long-term investments. The modest renter share of 10.6% and median income of 76,216 dollars imply that the demand for affordable housing, such as that supported by Section 8 vouchers, is present but not overwhelming. Nevertheless, the low price-cut share of 0.1% points to a strong seller's market where homes are valued accurately and sell as listed, reducing the risk of undervalued investments.
To conclude, the overall verdict for Section 8 investments in ZIP code 11961 is positive, given the favorable rent structure and the stable real estate market. Landlords and small-portfolio investors should consider the specific demographics and the limited renter population when making decisions, but the financial metrics point towards a secure and potentially profitable venture.
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.