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 | $1,630 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,340 |
| 3 Bedrooms | $2,950 |
| 4 Bedrooms | $3,100 |
| 5 Bedrooms | $3,596 |
| 6 Bedrooms | $4,028 |
| 7 Bedrooms | $4,350 |
| 8 Bedrooms | $4,568 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,340 | $306,498 | 0.76% | D |
| 3BR | $2,950 | $488,685 | 0.6% | D |
| 4BR | $3,100 | $679,939 | 0.46% | F |
| 5BR | $3,596 | $752,522 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 10918 in Chester, NY, stands out within Orange County due to its unique demographic and economic characteristics. With a population of 12,069, it has a rental rate of 20.4%, which is slightly below the national average. The median income here is $140,550, reflecting a relatively affluent community. However, the median home value of $522,830 is significantly higher, indicating that homeownership is more expensive compared to the income levels.
For landlords and small-portfolio investors, understanding the voucher economics is crucial. The Fair Market Rent (FMR) for ZIP 10918, as set for fiscal year 2024, is $2,040. This figure is notably higher than the Census ACS-reported market rent of $1,967. This discrepancy suggests that landlords participating in the Section 8 program can potentially charge slightly above the typical market rate, making it an attractive option for those looking to maximize their rental income while still serving tenants who qualify for assistance.
When assessing the stability of ZIP 10918, the data points towards a stable environment. The relatively high median income and median home value suggest a strong local economy with steady employment opportunities. Additionally, the modest rental rate indicates a balanced housing market where homeownership remains a significant portion of the housing stock. These factors combined point to a ZIP code that is unlikely to experience rapid changes, providing a predictable and stable investment climate for landlords and small-portfolio investors.
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.