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 | $2,670 |
| 1 Bedroom | $3,110 |
| 2 Bedrooms | $3,660 |
| 3 Bedrooms | $4,710 |
| 4 Bedrooms | $5,000 |
| 5 Bedrooms | $5,800 |
| 6 Bedrooms | $6,496 |
| 7 Bedrooms | $7,016 |
| 8 Bedrooms | $7,367 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,660 | $1,439,627 | 0.25% | F |
| 3BR | $4,710 | $1,892,537 | 0.25% | F |
| 4BR | $5,000 | $2,736,837 | 0.18% | F |
| 5BR | $5,800 | $5,306,243 | 0.11% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 11963, Sag Harbor, NY, for fiscal year 2024 is set at $3110. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is not the actual rent you will receive but rather the payment standard used by the housing authority.
To put this into perspective, the Zillow Observed Rental Index (ZORI), which reflects average market rents, stands at $48,599 per year in Sag Harbor. This means that the annual Section 8 payment standard is approximately $37,320, significantly lower than the average market rate. The difference between these two figures can be attributed to the fact that Section 8 aims to provide affordable housing options, particularly for low-income families.
The 16.3% renter share indicates that about 16.3% of the households in Sag Harbor are renters. This suggests a moderate level of demand for rental properties, including those participating in the Section 8 program. However, given the high cost of living in the area, there could still be a substantial number of individuals and families seeking affordable housing options.
If you're looking to acquire a property for a Section 8 rental in Sag Harbor, you should be prepared for an investment that aligns with the local real estate market. For instance, if the total acquisition cost of a property is around $2,309,828, you need to ensure that your projected income from the Section 8 voucher, combined with any potential co-payments from tenants, covers your expenses and provides a reasonable return on investment.
Before proceeding with a Section 8 rental in Sag Harbor, verify that the property meets all the necessary criteria for participation in the program. This includes ensuring that the property is up to code, safe, and habitable, as required by the housing authority. These standards are crucial because they directly impact whether your rental unit qualifies for the vouchers and ensures compliance with the program's regulations.
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.