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 | $1,310 |
| 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 |
|---|---|---|---|---|
| 3BR | $2,280 | $431,064 | 0.53% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate scenario for ZIP code 12410 provides insights into the potential returns for landlords and small-portfolio investors. With a median home value of $382,832, we can derive the gross yield based on the annualized Fair Market Rent (FMR) for a two-bedroom property, which is set at $1700 per month for fiscal year 2024.
To calculate the gross yield, we first annualize the FMR by multiplying it by 12, resulting in an annual rental income of $20,400. Given the median home value, the implied gross yield for a Section 8 property in ZIP 12410 would be approximately 5.33%. This is calculated by dividing the annual rental income ($20,400) by the median home value ($382,832).
However, without specific data on the market rent, it's challenging to provide an exact comparison. Assuming that market rents are higher than the Section 8 rates, the gross yield for a non-Section 8 property would likely exceed the 5.33% derived from the Section 8 scenario. The lack of data on market rents makes it impossible to state a precise figure, but it suggests a potentially higher gross yield if the property were rented at market rates.
The 3.8% renter density in ZIP 12410 indicates a relatively low percentage of residents who are renters. This could affect the demand for rental properties, including those under Section 8. Additionally, the absence of data on the days on market (DOM) complicates the assessment of how quickly properties might be leased, though it generally implies less liquidity compared to areas with higher renter densities and known DOM figures.
In conclusion, the Section 8 cap-rate scenario for ZIP 12410 offers a gross yield of about 5.33%, based on the annualized FMR. While this is a concrete figure, the lack of market rent data means that the potential for higher yields outside of Section 8 cannot be precisely quantified. Landlords should consider these factors alongside the specific needs and preferences of their investment portfolios when making decisions.
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.