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 | $1,360 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,960 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,380 | $519,560 | 0.46% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering Section 8 properties in ZIP 12419 might have several concerns, which can be addressed using the available data.
Objection 1: Will FMR $1870 (zip FY 2024) cover the mortgage on a $487,387 home?
The Fair Market Rent (FMR) of $1870 in ZIP 12419 for fiscal year 2024 is an important figure when evaluating the feasibility of renting out a property through the Section 8 program. To determine if this amount will cover the mortgage, we must consider the typical mortgage rates and terms. Assuming a 30-year fixed-rate mortgage with an interest rate of 4%, the monthly payment on a $487,387 home would be approximately $2360. This means that the FMR of $1870 would not fully cover the mortgage payment. However, it's worth noting that many landlords use the Section 8 program as part of their overall rental strategy, balancing it with other higher-paying tenants to manage cash flow effectively.
Objection 2: Is there enough renter demand at 20.4%?
The 20.4% rate of renters in ZIP 12419 suggests that there is a significant portion of the population seeking rental housing. While this percentage alone does not guarantee strong demand for Section 8 properties specifically, it indicates a substantial need for affordable housing. The key factor here is whether the local demand for Section 8 rentals matches the supply. Given the limited data, we cannot definitively state the level of demand for Section 8 properties, but the overall rental market share suggests potential opportunities. Landlords should also consider the administrative support and guarantees provided by the Section 8 program, which can mitigate some risks associated with renting to low-income individuals.
Objection 3: Will vouchers keep pace with $1,434 market rents?
The average market rent of $1434 in ZIP 12419 is a critical metric for assessing the value of Section 8 vouchers. According to the data, the voucher amounts are designed to meet a significant portion of the market rent, but they do not always cover the entire cost. In ZIP 12419, the FMR of $1870 is higher than the market rent, indicating that vouchers are likely to keep pace with the local rental costs. However, landlords should be aware that voucher amounts can vary based on the size and type of unit, as well as the specific needs of the tenant. It's essential to understand the voucher allocation process and the potential for adjustments in future years.
In summary, while the FMR of $1870 may not fully cover the mortgage on a $487,387 home, the Section 8 program offers stability and administrative support. The 20.4% rental rate points to a need for affordable housing, though the specific demand for Section 8 properties requires further investigation. Lastly, vouchers are expected to align with the $1434 market rent, offering landlords a reliable source of income. These insights provide a balanced view of the opportunities and challenges in ZIP 12419 for Section 8 investments.
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.