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 | $1,180 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $368,464 | 0.45% | F |
| 3BR | $2,030 | $437,500 | 0.46% | F |
| 4BR | $2,180 | $539,443 | 0.4% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 12443, which includes Hurley, NY, stands at $104,412. At first glance, this might seem like a robust figure for rental housing. However, the market rate rent for the area, according to the Census American Community Survey (ACS), is $1,241 per month. This amount represents a significant portion of the average household's budget.
To put this into perspective, consider that the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,930. This is the standard used for calculating Housing Choice Voucher payments. The disparity between the market rate and the FMR highlights an affordability gap for many renters. While the market rate is already a considerable expense, the voucher payment standard is even higher, potentially placing it out of reach for some households.
The area has a relatively low percentage of renters at 11.1%, with a total population of 3,559. This suggests that the majority of residents are homeowners, which could limit the pool of potential tenants. For those who do rent, the affordability gap means they may struggle to find suitable housing without assistance. Landlords must be aware of these dynamics when setting rents and considering their tenant base.
The takeaway for landlords is clear: while cash-paying tenants might be less likely to vacate due to financial constraints, they face stiff competition given the limited number of renters. Vouchers, on the other hand, offer a guaranteed income stream but come with the requirement of meeting the higher FMR standards. Landlords should weigh the benefits of each strategy carefully, taking into account the local rental market and the demographic makeup of their potential tenants. A balanced approach that caters to both voucher recipients and cash-paying renters will likely yield the best results in this competitive environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.