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 | $1,600 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $451,491 | 0.39% | F |
| 2BR | $2,300 | $583,700 | 0.39% | F |
| 3BR | $2,800 | $670,301 | 0.42% | F |
| 4BR | $3,020 | $754,424 | 0.4% | F |
| 5BR | $3,503 | $985,733 | 0.36% | F |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in Section 8 properties in ZIP code 12498 in Woodstock, NY, are significant. Firstly, tenant turnover can be a major issue. The market rent for the area stands at $1,680, while the Fair Market Rent (FMR) for FY 2024 is set at $1,660. This narrow margin between market rent and FMR could lead to higher turnover rates as tenants might seek properties that offer better deals or are outside the Section 8 program.
Vacancy exposure is another concern. The days on market (DOM) for the area is not available, which makes it difficult to predict how long a property might remain vacant. In an environment where vacancies can occur frequently, the lack of timely data on DOM increases the uncertainty and risk for landlords.
Deferred maintenance is also a notable risk factor. With a typical home value of $627,429 and a median income of $94,210, many residents may struggle to afford regular maintenance costs. Landlords must be prepared to handle significant repair and maintenance expenses, which can quickly eat into profit margins.
However, these risks are tempered by the high density of renters in the area. The renter share stands at 18.5%, indicating a robust demand for rental properties. High renter density usually translates into a greater number of individuals seeking housing through government assistance programs such as Section 8 vouchers. This increased demand can help mitigate some of the risks associated with vacancy and turnover.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.