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Suffolk County/Shelter Island/11964

11964

ZIPSAFMR
Suffolk County, NY
Zillow

ZIP Investment Score

44Below average

095130300
BRFMR
Eff. Rent
0 BR$2,630$2,890
1 BR$3,070$3,380
2 BR$3,610$3,970
3 BR$4,650$5,120
4 BR$4,930$5,420
5 BR$5,670Not available
6 BR$6,520Not available
7 BR$7,498Not available
8 BR$8,623Not available

Purchase Price Calculator

Maximum purchase price
$528,024

Cost breakdown

+Likely effective rent$3,970
HUD FMR$3,610
Market rent$12,480
Est. payment standard (110%)Used$3,970
-Principal and interest-$2,670
Loan amount$422,419
Down payment$105,605
Rate6.50%
Term30 years
-Operating costs-$1,100
Property taxes-$528
Insurance-$175
Utilities$0
HOA$0
Management-$397
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$62,934(59.6% ROI)
Projected value
$568,624
Return breakdown
Property appreciation+$40,600
Loan principal paid down+$15,134
Rental cash flow+$7,200
5-year hold
+$108,375(102.6% ROI)
Projected value
$597,411
Return breakdown
Property appreciation+$69,387
Loan principal paid down+$26,988
Rental cash flow+$12,000
10-year hold
+$236,200(223.7% ROI)
Projected value
$675,915
Return breakdown
Property appreciation+$147,891
Loan principal paid down+$64,309
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.50
1 BR
0.52
2 BR
0.29
3 BR
0.75
4 BR
0.33
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 11964 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 11964 (Shelter Island, NY) is $3,610 a month. That is down 1.9% from $3,680 in FY 2026. Shelter Island is in the Nassau-Suffolk, NY HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,689. Among 111 ZIP codes in Suffolk County, 11964 has the 6th-highest two-bedroom rent (county range $2,480–$3,920). The median county two-bedroom FMR in New York is $1,385, so ZIP 11964 is 161% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 11964
BedroomsFY 2027Change90–110% range
Studio$2,630−1.5%$2,367–$2,893
1BR$3,070−3.5%$2,763–$3,377
2BR$3,610−1.9%$3,249–$3,971
3BR$4,650−2.5%$4,185–$5,115
4BR$4,930−2.2%$4,437–$5,423

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 11964
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,630$3,070$3,610$4,650$4,930
FY 2026$2,670$3,180$3,680$4,770$5,040
FY 2025$2,400$2,910$3,360$4,350$4,670
FY 2024$2,130$2,670$3,130$4,050$4,390
FY 2023$1,850$2,300$2,760$3,550$3,910

Two-bedroom rent in nearby Suffolk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 11964
11958$2,630−27.1%
11959$3,800+5.3%
11960$2,670−26.0%
11961$2,480−31.3%
11962$2,670−26.0%
11963$3,660+1.4%
11964Current$3,610—
11965$2,850−21.1%
11967$2,630−27.1%
11968$2,620−27.4%
11969$2,670−26.0%
11970$2,670−26.0%

Questions about ZIP 11964 rents

How much will Section 8 pay for a two-bedroom in ZIP 11964?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,689, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,420 to $2,958 a month; under the ZIP-level Small Area FMR of $3,610 it would be $3,249 to $3,971. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 11964 in?

ZIP 11964 is in the Nassau-Suffolk, NY HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,689.

How much did fair market rent change in ZIP 11964 for FY 2027?

The two-bedroom FMR fell 1.9%, from $3,680 in FY 2026 to $3,610 in FY 2027. Since FY 2023 it has risen 30.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentShelter Island, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources