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 | $1,890 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,290 | $429,923 | 0.53% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 12411 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $1660 per month for fiscal year 2024. This figure is specifically tailored for this ZIP code, reflecting the local rental market conditions.
When a tenant uses a Section 8 voucher, they are responsible for paying a portion of the rent based on their income. Typically, this is around 30% of their adjusted monthly income. For instance, if a tenant's adjusted monthly income is $1500, they would pay approximately $450 towards the rent of a two-bedroom unit. The remaining amount is covered by the housing authority up to the SAFMR limit of $1660.
In addition to the base rent, there are utility allowances. These vary but generally provide an additional sum to cover electricity, gas, water, and sewer costs. For a two-bedroom apartment, the utility allowance might be around $300 per month. This means the total reimbursement from the housing authority could be $1960 ($1660 base rent + $300 utilities).
To illustrate, let's assume a landlord has a two-bedroom apartment listed for $1660 per month, which aligns with the SAFMR. If the tenant's portion is $450, the housing authority will cover the rest, making the total reimbursement to the landlord $1660. However, if the landlord charges more than the SAFMR, say $1800, then the tenant still pays $450, but the housing authority only reimburses up to $1660, leaving a shortfall of $150 for the landlord.
The typical reimbursement gap or surplus depends on the actual market rent compared to the SAFMR. Since the local market rent for ZIP 12411 is not available, we can infer that if the market rent is below $1660, landlords might see a surplus where the voucher covers more than the tenant pays. Conversely, if the market rent exceeds $1660, landlords will face a reimbursement gap, where they must subsidize the difference between the market rate and the voucher payment.
Given the SAFMR of $1660, landlords should price their units accordingly to avoid shortfalls. If the market rent is higher, they must decide whether to accept the lower reimbursement or seek tenants without vouchers who can pay the full market rate.
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.