Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,390 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,510 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 10988 reveals that the HUD Fair Market Rent (FMR) of $1730 for fiscal year 2024 is higher than the average market rent of $1,464 based on Census ACS data. This means that voucher tenants will generally cashflow positively at the FMR rate, indicating a strong potential for steady income without the risk of vacancy.
The median home value in the area stands at $340,239. To understand the rent-to-price ratio, we calculate it by dividing the average market rent by the median home value. The resulting ratio is approximately 0.43%, suggesting that rental properties are undervalued relative to the housing market, which could indicate an opportunity for both cashflow and potential appreciation.
While the median days on market (DOM) and the percentage of homes that have had their prices cut are not available, these metrics would typically be useful in assessing the local real estate market's health and the balance between buying and renting. However, given the favorable rent-to-price ratio and the positive cashflow potential, it is evident that the rental market in ZIP 10988 is robust and likely to attract a steady stream of tenants.
The strongest investor angle in this market is cashflow. With voucher tenants paying above the average market rent, landlords can expect consistent and reliable income from their properties, making ZIP 10988 an attractive location for small-portfolio investors seeking 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.