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 | $1,390 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $475,243 | 0.42% | F |
| 3BR | $2,420 | $603,544 | 0.4% | F |
| 4BR | $2,620 | $740,200 | 0.35% | F |
U.S. Census Bureau data (2024)
1990 is the Fair Market Rent (FMR) for ZIP code 12484 in Stone Ridge, NY, as set by HUD for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. 572,162 is the median home value in the same ZIP code, indicating a significant disparity between home ownership and rental costs. 8.8% is the proportion of renters in Stone Ridge, suggesting a modest but present demand for rental properties. 119,779 is the median income of residents, which is critical when assessing the financial capability of potential tenants to afford housing. The lack of specific data on days on market (DOM) and price-cut share implies stability in the local real estate market, without frequent fluctuations or prolonged vacancies.
The Fair Market Rent of 1990 is a key consideration for landlords, as it sets a clear boundary for rental pricing. Given the median home value of 572,162, it's evident that renting remains a more accessible option for many residents. With only 8.8% of the population being renters, landlords should be prepared for a potentially competitive market, where properties that offer good value for money will be in higher demand. The median income of 119,779 provides a solid foundation for determining the affordability of rental units, ensuring that tenants can meet their financial obligations consistently.
In conclusion, the relatively low renter share and stable market conditions suggest that landlords in Stone Ridge, NY, should focus on offering high-quality, competitively priced rental units to attract and retain tenants. The Section 8 program, with its defined FMR, offers a reliable stream of income for those willing to participate, aligning well with the economic profile of the area. Landlords should consider the benefits of joining the Section 8 program, given the financial parameters outlined.
Verdict: Participation in Section 8 is advisable for landlords seeking stable income in Stone Ridge, NY.
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.