Section 8 Fair Market Rent (FMR) for ZIP 12537 - 2027
Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,450 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $2,760 |
| 5 Bedrooms | $3,202 |
| 6 Bedrooms | $3,586 |
| 7 Bedrooms | $3,873 |
| 8 Bedrooms | $4,067 |
To determine if you should buy in ZIP code 12537 (Unknown, NY) for Section 8 properties, follow this decision tree:
1) Does FMR $1790 (zip FY 2024) clear debt service on a property?
- Yes: If your debt service on a property is less than $1790 per month, then the Fair Market Rent (FMR) will cover your expenses, making the investment viable.
- No: If your debt service exceeds $1790, the FMR will not be sufficient to cover your costs, leading to financial losses.
- It Depends: The viability hinges on whether you can find a property with a lower debt service that aligns with the FMR. Research local property values and financing options to ensure the FMR can meet your needs.
2) Is market rent above, at, or below FMR?
- Above FMR: If the market rent is higher than $1790, you might consider investing in non-Section 8 tenants to maximize rental income.
- At FMR: If the market rent matches the FMR, Section 8 properties are a direct fit for the area, providing a stable source of income.
- Below FMR: If the market rent is lower than $1790, Section 8 can offer a more lucrative option compared to private market rents.
3) Are there enough renters and days on the market (DOM) to meet demand?
- Yes: A high percentage of renters combined with a low DOM indicates strong demand for rental properties. This makes ZIP 12537 attractive for Section 8 investments.
- No: If the percentage of renters is low and DOM is high, it suggests a weak rental market. In this case, Section 8 investments may struggle to attract tenants.
- It Depends: Evaluate the specific percentages of renters and average DOM. If the numbers show moderate demand, further analysis into the local economy and housing trends is required to make an informed decision.
Note: The placeholders for market rent, percentage of renters, and DOM indicate missing data. For a precise analysis, these details must be obtained.
Data Sources: FMR data from HUD (2027).
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.