Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
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 | $2,020 |
| 2 Bedrooms | $2,590 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,440 |
| 5 Bedrooms | $3,990 |
| 6 Bedrooms | $4,469 |
| 7 Bedrooms | $4,827 |
| 8 Bedrooms | $5,068 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,270 | $509,665 | 0.64% | D |
| 4BR | $3,440 | $694,895 | 0.5% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 10917 reveals several potential issues that could impact landlords and small-portfolio investors. First, tenant turnover could be problematic due to the disparity between the market rent and the Fair Market Rent (FMR) set at $2220 for fiscal year 2024. This discrepancy might lead to frequent changes in occupancy as tenants seek affordable housing options, potentially affecting rental stability.
Second, vacancy exposure is a significant concern. With no data available on days on market (DOM), it's challenging to predict how quickly a property can be filled. High vacancy periods can result in lost rental income, which can be detrimental to cash flow management. The typical home value in ZIP 10917 stands at $561,645, while the median household income is $121,944. This income level suggests that many residents might rely on financial assistance such as Section 8 vouchers to afford housing, increasing the risk of deferred maintenance as tenants may have limited resources to cover unexpected repairs.
However, these risks are tempered by the high proportion of renters in the area, with 16.9% of the population being renters. A high renter density often correlates with higher demand for housing assistance programs like Section 8, which can provide a steady stream of qualified tenants. The presence of numerous voucher holders in the area can help mitigate the risk of vacancy and ensure consistent rental income.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 10917 is moderate. While there are challenges associated with tenant turnover and deferred maintenance, the strong renter base and high voucher demand offer a counterbalance to these risks.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.