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 |
The Fair Market Rent (FMR) for ZIP code 11969 in Unknown, NY, for fiscal year 2024 is set at $2470. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive, but rather the benchmark used to determine the rent subsidy.
For comparison, the local median rent in ZIP 11969 is currently listed as N/A. The FMR is typically higher than the average market rent to ensure that there are enough housing options available for those who qualify for Section 8 assistance. However, since the local median rent is not available, we cannot make a direct comparison to gauge how competitive the FMR is relative to the general market.
The percentage of renters in ZIP 11969 is N/A%, indicating the proportion of residents who pay rent rather than own their homes. This can be a useful metric when assessing the potential demand for rental properties in the area. If the renter share is high, it suggests a strong interest in rental housing, which could benefit landlords participating in Section 8.
In terms of acquiring a property, the typical home value in ZIP 11969 is listed as N/A. This gives an idea of the investment required to purchase a rental property in the area. While the exact number is not provided, it's crucial to consider the total cost of ownership, including maintenance, utilities, and any other expenses that might come with managing a rental property.
Before deciding to participate in the Section 8 program, verify that your property meets all the necessary requirements for the program, such as passing a Housing Quality Standards (HQS) inspection. This ensures that your property is up to the standards expected by the program, and it's a critical step to avoid delays or disqualification.
Data Sources: FMR data from HUD (2027).
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.