Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,920 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,630 |
| 3 Bedrooms | $3,380 |
| 4 Bedrooms | $3,590 |
| 5 Bedrooms | $4,164 |
| 6 Bedrooms | $4,664 |
| 7 Bedrooms | $5,037 |
| 8 Bedrooms | $5,289 |
U.S. Census Bureau data (2024)
ZIP code 11967, located in Shirley, NY, falls within the Nassau-Suffolk, NY HUD Metro FMR Area. The Fair Market Rent (FMR) for this ZIP is set at $2,630 for fiscal year 2024, while the actual market rent stands at $1,998. This indicates that the rental market in 11967 is currently undervalued relative to HUD's FMR, suggesting potential growth for landlords participating in the Section 8 program.
The median home value in 11967 is $531,109, which is a significant figure but must be compared against the broader metro area to determine its status. The renter share in this ZIP is 7.5%, a relatively low percentage, indicating that it is primarily a homeowner-dominated area. However, this low renter share does not necessarily preclude it from being a valuable market for Section 8 participation, especially given the discrepancy between FMR and market rent.
To contextualize these numbers, consider the typical characteristics of ZIP codes within the Nassau-Suffolk, NY HUD Metro FMR Area. Generally, ZIPs in this area have higher home values and a slightly higher renter share. The fact that 11967 has a lower market rent compared to its FMR suggests it could be considered a value pocket within the larger metro area. This means landlords might find it more affordable to acquire properties here, potentially offering better returns on investment when considering Section 8 participation.
A high renter share with below-average home values can signal a prime location for Section 8 investments due to increased demand for subsidized housing. While 11967 does not exhibit this exact profile, the undervaluation of market rents compared to FMRs does suggest a potential opportunity for landlords who can navigate the local real estate landscape effectively.
In summary, ZIP 11967 appears to be a value pocket within the Nassau-Suffolk, NY HUD Metro FMR Area, characterized by lower market rents and a moderate home value, making it an attractive option for landlords looking to enter the Section 8 program. The 7.5% renter share, although not high, does not detract from the overall appeal, given the favorable rent-to-FMR ratio.
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.