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 | $1,530 |
| 1 Bedroom | $1,710 |
| 2 Bedrooms | $2,190 |
| 3 Bedrooms | $2,760 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,190 | $379,509 | 0.58% | F |
| 3BR | $2,760 | $501,692 | 0.55% | F |
| 4BR | $2,900 | $681,377 | 0.43% | F |
| 5BR | $3,364 | $786,140 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP code 10924, located in Goshen, NY, is part of the larger Kiryas Joel-Poughkeepsie-Newburgh, NY Metropolitan Statistical Area (MSA). To understand its position within the metro, we can compare its key metrics against typical ZIP codes in the same area.
The Fair Market Rent (FMR) for ZIP 10924 in fiscal year 2024 is set at $1750. This figure closely aligns with the market rent of $1,770, indicating that the housing costs in this ZIP code are reflective of the local rental market conditions. The average home value in 10924 stands at $557,808, which suggests a middle-ground position compared to other ZIP codes within the MSA. While some areas may have higher home values, others could be significantly lower, making 10924 a reasonable choice for both investment and residency.
The renter share in ZIP 10924 is 22.2%. This percentage is notable as it exceeds the national average, pointing towards a significant portion of residents who are likely to benefit from Section 8 subsidies. However, the home value being above the national average implies that while there is a substantial number of renters, the overall property values are still relatively high.
To determine if 10924 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within the Kiryas Joel-Poughkeepsie-Newburgh MSA, we must consider the interplay between its rental rates and home values. Given that the FMR and market rent are nearly identical and moderately priced, coupled with a higher-than-average renter share, 10924 leans towards being a mid-tier neighborhood. It offers a balance between accessibility for subsidized renters and maintaining property values that are attractive to investors looking for stability and potential growth.
A divergence worth noting is the combination of a high renter share with above-average home values. This scenario often indicates a location that could be advantageous for Section 8 landlords due to the presence of eligible tenants without compromising on property appreciation potential. However, it does not necessarily signal a 'sweet spot' for Section 8 investments as the home values suggest a slightly elevated cost basis.
In summary, ZIP 10924 appears to be a mid-tier neighborhood within the Kiryas Joel-Poughkeepsie-Newburgh MSA, offering a blend of affordability for renters and moderate investment appeal for landlords and small-portfolio investors.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.