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 | $1,880 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $388,040 | 0.48% | F |
| 3BR | $2,280 | $475,987 | 0.48% | F |
| 4BR | $2,470 | $583,285 | 0.42% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 12491 in New York provides a clear picture of potential investment yields based on Fair Market Rent (FMR) and market rent figures.
Annualizing the 2BR FMR at $1790 for fiscal year 2024, the total annual rental income would be $21,480. Given the median home value of $462,430, the implied gross yield for this scenario is approximately 4.64%. This calculation is derived by dividing the annual rental income by the property value.
In contrast, using the market rent figure of $2,038 from the Census ACS, the total annual rental income increases to $24,456. With the same median home value of $462,430, this scenario implies a gross yield of about 5.29%.
Considering the renter density of 7.3%, it is important to recognize that while this percentage might seem low, it does not necessarily impact the gross yield calculations directly. However, it does suggest that the local housing market may have a relatively smaller pool of tenants compared to other areas, which could influence vacancy rates and the stability of rental income.
The N/A-day DOM (Days on Market) indicates incomplete data regarding how quickly properties are rented out in this area. This missing information makes it difficult to assess the typical speed at which rental units are filled, but it does not negate the validity of the gross yield figures.
The more realistic gross yield for an investment property in ZIP 12491 is likely closer to the 5.29% derived from the market rent figure. This is because the market rent reflects current demand and willingness to pay, whereas the FMR is a government-set benchmark that may not fully capture the actual rental market dynamics. The higher gross yield from market rent suggests a better alignment with what landlords and investors can reasonably expect in terms of rental income.
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.