Location: Kiryas Joel-Poughkeepsie-Newburgh, 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 | $1,500 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,720 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,160 | $388,730 | 0.56% | F |
| 3BR | $2,720 | $517,660 | 0.53% | F |
| 4BR | $2,860 | $677,636 | 0.42% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 12578, Salt Point, NY, stands at $108,194. Given the market rate rental price of $1,658 according to the Census Bureau's American Community Survey (ACS), it is important to evaluate whether this income level can support such expenses. The Federal Market Rent (FMR) for the area, set at $1,560 for fiscal year 2024, provides insight into what the government deems affordable for households participating in the Section 8 housing choice voucher program.
To put these numbers in perspective, consider that the median income of $108,194 translates to an annual amount that could cover the market rate rent of $1,658 if the household spends no more than 30% of their income on housing, which is the guideline often used by financial advisors. However, with only 19.0% of the 2,249 residents being renters, the competition among landlords is relatively low. This means that landlords have fewer direct competitors but also a smaller pool of potential tenants.
The difference between the market rate ($1,658) and the FMR ($1,560) indicates an affordability gap for some renters. This gap means that while the median income suggests households can afford market rates, there might still be a segment of the population that relies on Section 8 vouchers to find affordable housing. Landlords must weigh the benefits of accepting vouchers against the potential for receiving higher rent payments from cash-paying tenants who do not require subsidies.
Takeaway for Landlords: In ZIP 12578, landlords should consider the balance between the number of voucher holders and non-voucher tenants. Accepting vouchers can ensure steady income and fill vacancies in a competitive market, albeit at a slightly lower rate. However, given the higher median income and the possibility of attracting cash-paying tenants willing to pay above the FMR, landlords might prioritize strategies that attract those with higher incomes to maximize their rental revenue. Nonetheless, the decision should be informed by understanding the local demand for subsidized housing and the financial stability it can provide.
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.