Location: Kiryas Joel-Poughkeepsie-Newburgh, NY | Metro: Kiryas Joel-Poughkeepsie-Newburgh, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
Kiryas Joel-Poughkeepsie-Newburgh County ZIP code 12551 presents a unique set of characteristics that make it stand out among other areas. Due to the lack of specific resident, rental percentage, median income, and median home value data, the analysis will focus on the available voucher economics.
The Fair Market Rent (FMR) for ZIP 12551 in fiscal year 2024 is set at $1860. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount the government will pay towards rent for a Section 8 tenant. The FMR is typically higher than the actual market rent, providing a buffer for property owners.
Despite the absence of detailed market rent data, the FMR provides a reliable benchmark for rental pricing. Landlords can use this figure to set competitive rents while ensuring they receive adequate compensation. For example, if the actual market rent is below $1860, landlords can adjust their rates closer to the FMR without risking tenant loss due to the subsidy coverage.
Given the limited data available, the ZIP code's economic profile appears stable. The consistent FMR allocation suggests that there is a predictable demand for affordable housing in the area, which is beneficial for long-term investment planning. However, the lack of additional demographic data means that potential transitional factors affecting the local real estate market cannot be fully assessed.
To conclude, ZIP 12551 offers a straightforward opportunity for those interested in Section 8 properties. With the FMR at $1860, landlords can expect a steady stream of subsidized tenants, though they should remain vigilant for any changes in the broader economic landscape that could affect the stability of the area.
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.