Location: Sullivan County, NY | Metro: Kingston, 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 | $1,410 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,510 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,560 | $262,526 | 0.59% | F |
| 2BR | $2,010 | $324,340 | 0.62% | D |
| 3BR | $2,510 | $455,483 | 0.55% | F |
| 4BR | $2,670 | $577,009 | 0.46% | F |
| 5BR | $3,097 | $605,674 | 0.51% | F |
U.S. Census Bureau data (2024)
Pine Bush, NY, in ZIP code 12566, is a suburban neighborhood with a total population of 10,269. Renters make up 23.8% of the residents, indicating a predominantly owner-occupied community. The median household income is a robust $112,831, suggesting a relatively affluent area. The median home value stands at $435,852, reflecting the high cost of living and property ownership in this region.
The rental economics in Pine Bush present an interesting scenario for investors. The Fair Market Rent (FMR) for the area, as set for the fiscal year 2024, is $1920 per month. This is notably higher than the average market rent of $1,513 reported by the Census Bureau's American Community Survey. This discrepancy highlights a potential opportunity for landlords who can offer properties that meet the criteria for Section 8 vouchers, as they could potentially command higher rents through the voucher program.
Given these economic conditions, ZIP 12566 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to market rent means that properties accepting Section 8 vouchers can generate more income than those rented on the open market. Meanwhile, value-add buyers can leverage the affluent nature of the area to renovate and improve properties, thereby increasing their rental value and attracting tenants willing to pay above the market rate. The combination of a strong local economy and a favorable gap between FMR and market rent makes Pine Bush an attractive investment destination for those interested in Section 8 properties.
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.