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 | $1,510 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,720 |
| 4 Bedrooms | $2,890 |
| 5 Bedrooms | $3,352 |
| 6 Bedrooms | $3,754 |
| 7 Bedrooms | $4,054 |
| 8 Bedrooms | $4,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,720 | $482,777 | 0.56% | F |
| 4BR | $2,890 | $625,923 | 0.46% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 10969 stands at $126,875. However, without a specific market rate for rent, it's challenging to provide a direct comparison to the household's ability to afford housing. The Fair Market Rent (FMR) for the area, set at $1720 per month for fiscal year 2024, serves as a guideline for voucher payments.
Given the low percentage of renters—only 2.9% of the 1,150 population—the competition among landlords in this area is relatively mild. This means landlords can focus on a smaller but potentially more affluent pool of tenants who might be able to pay higher rents.
The affordability gap becomes apparent when considering that the median income is significantly higher than what would be required to comfortably cover an FMR rent of $1720. A household earning the median income could likely afford a higher rent, suggesting that those relying solely on vouchers might struggle to find suitable accommodations.
For landlords, the takeaway is clear: focusing on cash-paying tenants rather than those using vouchers can be a more lucrative strategy. The higher potential rental rates from cash-paying tenants can better align with the local median income levels, providing a more stable and profitable income stream compared to the fixed voucher amounts.
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.