Location: New York, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, 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 | $2,280 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,570 |
| 5 Bedrooms | $4,141 |
| 6 Bedrooms | $4,638 |
| 7 Bedrooms | $5,009 |
| 8 Bedrooms | $5,259 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,620 | $431,883 | 0.61% | D |
| 3BR | $3,280 | $546,771 | 0.6% | F |
| 4BR | $3,570 | $699,937 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP code 12531, located in Holmes, NY, falls within the broader New York, NY HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $2,210. This figure is lower than the market rent of $2,519, indicating that while it is subsidized, tenants might still pay slightly above the FMR.
The median home value in ZIP 12531 stands at $520,160, which is relatively moderate compared to other ZIP codes within the New York, NY HUD Metro FMR Area. The renter share of 10.7% is also below average for the area, suggesting a predominantly owner-occupied community rather than a rental-heavy one.
Based on these figures, ZIP 12531 can be classified as a mid-tier neighborhood within the New York, NY HUD Metro FMR Area. It offers a balance between affordable rents and reasonable home values. While the renter share is low, the FMR being significantly below the market rent makes it an attractive option for landlords participating in the Section 8 program. However, the low renter share indicates that it may not be as sought-after by renters as other areas with higher shares.
The divergence here is not as pronounced as in typical Section 8 sweet spots, where high renter shares are coupled with below-average home values. In ZIP 12531, the home values are moderate, and the renter share is low, making it a stable but not necessarily a prime target for investors focusing solely on the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.