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 | $1,570 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $223,184 | 0.79% | D |
| 2BR | $2,260 | $330,806 | 0.68% | D |
| 3BR | $2,850 | $481,316 | 0.59% | F |
| 4BR | $2,990 | $623,945 | 0.48% | F |
| 5BR | $3,468 | $653,033 | 0.53% | F |
U.S. Census Bureau data (2024)
Monroe 10950 serves as a diverse hub in Orange County, characterized by a blend of suburban tranquility and significant commercial growth. The area is notably anchored by the presence of major logistics and retail distribution centers, bolstered by its proximity to critical transportation corridors like Interstate 87 and Route 17. Local governance emphasizes managed development, ensuring the town maintains its residential character while accommodating expanding commercial zones that provide steady employment opportunities for residents.
From a strictly numerical standpoint, the spread between subsidized payments and private market rents demands attention. The FY2026 Fair Market Rate for a two-bedroom unit is set at $2,140, yet current Zillow market data places the going rent at $3,187. This creates a substantial shortfall of $1,047 per month if a landlord relies solely on the Housing Choice Voucher. With a median home value of $529,096 and properties lingering on the market for a median of 61 days, investors face high entry costs relative to the HUD caps.
The tenant pool is robust, with 38.6% of households renting and a median household income of $78,931. This income level suggests that while many residents can afford market rates, there is still a significant portion of the population that requires affordable housing options. The town is served by well-regarded public schools and local parks, which enhance neighborhood desirability and help maintain consistent rental demand despite the higher price points found in the broader Orange County market.
The Section 8 verdict here leans toward stability rather than immediate cash flow. Given the $1,047 gap between the FMR and market rent, voucher tenants do not currently cash-flow at market rates. However, the area's appreciation potential—evidenced by a median 2BR sale price of $328,032 against a much higher overall median home value—suggests long-term equity growth. For investors willing to accept the rent gap, Monroe offers a hedge against vacancy in a high-demand suburban location.
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.