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 | $1,660 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,000 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,000 | $485,922 | 0.62% | D |
| 4BR | $3,150 | $648,877 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP code 10973 is not predominantly a renter-heavy area. With only 14.6% of residents renting, it leans towards being a homeowner-dominated zone. This means that the demand for rental properties using Section 8 vouchers is relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code is $117,167, which places it in a higher-income bracket. The market rent for the area stands at $1,810 per month. To put this into perspective, the typical rent consumes approximately 15.4% of the local median income. This can be calculated by dividing the market rent ($1,810) by the median household income ($117,167) and multiplying by 12 months to annualize the rent, then dividing by the median income again.
Comparing the market rent to the Fair Market Rent (FMR) set at $2,270 for FY 2024, it's evident that the actual rents in ZIP 10973 are below the FMR threshold. This suggests that landlords may have some flexibility in pricing their rentals without exceeding the limits set by the housing authority for Section 8 vouchers.
A landlord in ZIP 10973 should expect tenants who are likely to be part of lower-income families eligible for Section 8 assistance. These tenants will have a household income that does not exceed 50% of the area median income, which in this case would be around $58,584 or less annually. Given the higher overall median income in the area, the proportion of potential Section 8 tenants is smaller, but they still represent a significant portion of the rental market. Landlords should prepare for tenants who might require financial assistance and ensure their properties meet the necessary standards for Section 8 eligibility.
In summary, while ZIP 10973 is not heavily reliant on rental housing, there is still a niche market for Section 8 tenants. Landlords must consider the income levels of these tenants when setting rents, keeping in mind the balance between market rates and the affordability constraints imposed by Section 8 voucher limits.
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.