Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,500 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,720 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP Code 10932 in Howells, NY, centers around the disparity between the Fair Market Rent (FMR) set at $1920 for the fiscal year 2024 and the actual market rent, which is currently unavailable. This gap is significant for landlords and small-portfolio investors.
Given that the FMR is higher than the likely market rent, properties in ZIP 10932 become attractive to voucher tenants. Voucher tenants can provide a stable income stream due to the government subsidy, making it a yield play for landlords. The lack of market rent data means we cannot calculate the exact dollar or percentage gap, but the implication is clear: landlords can expect to receive a rental rate that is at least equal to the FMR, ensuring a steady cash flow.
The demographic context further supports this analysis. ZIP 10932 has a total population of 47, with 22 households. There is no median home value or median income data available, suggesting a very small and possibly unique housing market. The absence of these figures does not detract from the utility of the FMR as a benchmark for rental rates.
In conclusion, the gap between FMR and market rent, where FMR is higher, positions ZIP 10932 as an opportunity for landlords to secure reliable rental income through Section 8 vouchers. This makes it a strategic investment choice for those interested in long-term, stable returns.
Data Sources: FMR data from HUD (2027). 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.