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 | $1,250 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,270 | $351,730 | 0.65% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 12746, located in the Kiryas Joel-Poughkeepsie-Newburgh, NY MSA, reveals several key points for landlords and small-portfolio investors.
First, regarding the rent math, the Fair Market Rent (FMR) set at $1510 for fiscal year 2024 does not align well with the market rent reported by the Census ACS, which stands at $1,574. This suggests that the rent set by HUD for this area is slightly below what the market can bear, potentially leaving landlords with less profit margin than desired.
Second, the acquisition cost for properties in ZIP 12746 is relatively low, with a median home value of $326,929. However, the lack of data on days on market (DOM) and the percentage of homes that have been subject to price cuts indicates that the local real estate market might be stable but also somewhat opaque. Investors should conduct further research to understand the dynamics of property sales and pricing adjustments in this area.
Lastly, the tenant demand in ZIP 12746 is modest given its small population of 778 residents, with only 8.3% being renters. This implies that the pool of potential tenants is limited, and landlords must ensure they offer competitive rental terms to attract and retain tenants.
In conclusion, while the acquisition cost in ZIP 12746 is attractive, the slight mismatch between FMR and market rent, along with the limited tenant base, means that landlords need to carefully manage their rental pricing and expectations. The area presents an opportunity for those willing to navigate a smaller rental market and possibly contend with lower renter demand compared to larger metropolitan areas. Investors should focus on understanding local rental trends and tenant preferences to succeed in this niche market.
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.