Location: Kingston, NY | Metro: Kingston, 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 | $1,320 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $608,486 | 0.31% | F |
| 3BR | $2,280 | $841,611 | 0.27% | F |
| 4BR | $2,470 | $993,954 | 0.25% | F |
U.S. Census Bureau data (2024)
To understand the economics of Section 8 housing in ZIP code 12409 (Bearsville, NY, Ulster County), it's important to know the specifics of the SAFMR (Small Area Fair Market Rent) and how it interacts with local market rents. The SAFMR for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $1780. This figure is unique to this ZIP code and reflects the rental rates considered fair in Bearsville specifically.
The local market rent for Bearsville, NY, however, is not provided, which can make it challenging to directly compare the SAFMR to the actual rents being charged in the area. Nonetheless, landlords can use the SAFMR as a benchmark to ensure their properties remain competitive while participating in the Section 8 program.
A Section 8 voucher pays a portion of the rent based on the tenant’s income. Typically, tenants pay about 30% of their adjusted income toward rent, and the voucher covers the difference up to the SAFMR limit. For example, if a tenant's monthly adjusted income is $1500, they would pay approximately $450 ($1500 x 0.30) toward the rent. The voucher would then cover the remaining $1330 ($1780 - $450).
Utility allowances also factor into the equation. The voucher program includes an allowance for utilities, which varies by location and type of dwelling. In Bearsville, the utility allowance is included in the total reimbursement but is not separately stated here. Landlords should be aware that the total reimbursement amount includes both rent and utilities.
In summary, if you are a landlord in Bearsville, NY, participating in the Section 8 program, you will receive a reimbursement of up to $1780 per month for a two-bedroom unit. However, since the local market rent is not specified, it's unclear whether this reimbursement will fully cover the cost of renting out your property. If the local market rent exceeds $1780, you will face a reimbursement gap, meaning the voucher will not cover the full market rent. Conversely, if the market rent is below $1780, you might see a surplus, where the voucher pays more than the market rate.
To determine the exact financial impact, landlords must compare their own rental rates to the SAFMR of $1780. If the market rent is higher, landlords should expect to subsidize the difference between the voucher payment and the market rent. If lower, landlords will benefit from the additional funds provided by the voucher program.
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.