Location: Kingston, NY | Metro: Kingston, NY MSA
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 12416 presents an interesting challenge for landlords and small-portfolio investors interested in attracting Section 8 tenants. With a population of 106, it's clear that this area is not densely populated, which immediately suggests that the rental market will be limited. The reported figure of 0.0% renters indicates that this ZIP code is overwhelmingly dominated by homeowners rather than renters. This characteristic significantly reduces the potential for a deep voucher demand, as Section 8 housing assistance is primarily utilized by those who are renting.
Given that the median household income is listed as N/A, it's impossible to accurately calculate what percentage of local income goes towards market rent. However, without specific income data, we can still make some observations based on the Fair Market Rent (FMR) data. The FMR for ZIP 12416 is set at $1700 for fiscal year 2024. While this figure represents the maximum amount that a voucher holder can pay in rent, it doesn't provide insight into the actual market rents unless the local market closely aligns with these federal guidelines.
In areas with a low percentage of renters, landlords might find that the competition for Section 8 tenants is relatively low, but the overall number of potential tenants is also likely to be small. Landlords in ZIP 12416 should expect a tenant pool that is predominantly composed of individuals or families who qualify for housing assistance due to their lower-income status. These tenants would be looking for affordable housing options that fit within their voucher limits, which could be challenging given the homeowner-dominated landscape.
To conclude, while the FMR of $1700 offers a benchmark for affordability, the scarcity of renters in ZIP 12416 means that landlords should not anticipate a large influx of Section 8 applicants. Instead, they should prepare for a smaller, more niche market where vouchers are less common due to the preponderance of homeownership. The expected tenant profile would thus be one of individuals who are heavily reliant on government subsidies to meet their housing needs, necessitating thorough vetting processes to ensure stability and compliance with housing assistance regulations.
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.