Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,810 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $2,930 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
U.S. Census Bureau data (2024)
In ZIP code 12527, the Section 8 program operates under specific economic guidelines that directly impact landlords and small-portfolio investors. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $2000. This figure represents the maximum amount that the government will pay towards a tenant's rent if they are using a Section 8 housing voucher.
The SAFMR is established for this specific ZIP code, meaning it takes into account the local rental market conditions. However, the local market rent for a two-bedroom unit in ZIP 12527 is currently not available, which makes direct comparisons challenging. Nonetheless, understanding the SAFMR is crucial for landlords to assess their participation in the Section 8 program.
A Section 8 voucher works by covering a significant portion of the tenant's rent, but not all. The voucher holder typically pays 30% of their adjusted income towards rent, plus any additional utility allowances. For instance, if a tenant has an adjusted income of $1600 per month, they would pay $480 towards rent ($1600 x 0.3 = $480). Assuming the utility allowance is $100, the total monthly payment from the tenant would be $580.
This means that the government would cover the remaining $1420 of the $2000 SAFMR, ensuring the landlord receives a total of $2000 per month for a two-bedroom unit. It's important to note that the SAFMR sets the upper limit on what the government will pay, so landlords cannot charge more than this amount for a voucher to be valid.
To summarize, in ZIP 12527, a landlord participating in the Section 8 program for a two-bedroom apartment can expect a reimbursement of $1420 from the government, with the tenant contributing $580 (based on a hypothetical $1600 income). This leaves a reimbursement gap or surplus based on the actual market rent of the property. Since the local market rent is not specified, landlords must compare this $2000 SAFMR to their own rental rates to determine if there is a surplus or shortfall.
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.