Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
U.S. Census Bureau data (2024)
ZIP 12514, located in Clinton Corners, NY, within the Kiryas Joel-Poughkeepsie-Newburgh, NY MSA metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $1630, which significantly exceeds the current market rent of $1,138. This spread means that landlords can secure higher rents through Section 8 vouchers compared to the local market rates, ensuring strong positive cash flow.
The median home value in ZIP 12514 stands at $592,095, indicating a relatively high-cost area. However, the primary focus for Section 8 properties is the rental income, not the property value. With a median income of $120,439, the area is economically stable, supporting consistent tenant payments and reducing the risk of vacancies. The 7.6% renter share suggests that the majority of residents own their homes, making the demand for rental properties, especially those covered by Section 8 vouchers, robust.
In summary, ZIP 12514 should be considered a cash-flow anchor due to the substantial difference between the FMR and market rent, providing landlords with reliable and above-average rental income. This makes it a solid choice for those aiming to stabilize their investment portfolio with dependable returns.
Data Sources: FMR data from HUD (2027). 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.