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Orange County/Highland Falls/10928

10928

ZIPSAFMR
Orange County, NY
Zillow

ZIP Investment Score

62Below average

095130300
BRFMR
Eff. Rent
0 BR$1,600$1,710
1 BR$1,790$1,860
2 BR$2,300$2,530
3 BR$2,900$2,940
4 BR$3,050$3,360
5 BR$3,507Not available
6 BR$4,034Not available
7 BR$4,639Not available
8 BR$5,334Not available

Purchase Price Calculator

Maximum purchase price
$314,040

Cost breakdown

+Likely effective rent$2,530
HUD FMR$2,300
Market rent$2,650
Est. payment standard (110%)Used$2,530
-Principal and interest-$1,588
Loan amount$251,232
Down payment$62,808
Rate6.50%
Term30 years
-Operating costs-$742
Property taxes-$314
Insurance-$175
Utilities$0
HOA$0
Management-$253
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,348(64.2% ROI)
Projected value
$338,187
Return breakdown
Property appreciation+$24,147
Loan principal paid down+$9,001
Rental cash flow+$7,200
5-year hold
+$69,319(110.4% ROI)
Projected value
$355,308
Return breakdown
Property appreciation+$41,267
Loan principal paid down+$16,051
Rental cash flow+$12,000
10-year hold
+$150,205(239.1% ROI)
Projected value
$401,998
Return breakdown
Property appreciation+$87,958
Loan principal paid down+$38,247
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.90
1 BR
0.94
2 BR
0.87
3 BR
0.98
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 10928 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 10928 (Highland Falls, NY) is $2,300 a month. That is up 4.5% from $2,200 in FY 2026. Highland Falls is in the Kiryas Joel-Poughkeepsie-Newburgh, NY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,131. Among 60 ZIP codes in Orange County, 10928 has the 18th-highest two-bedroom rent (county range $1,790–$3,950). The median county two-bedroom FMR in New York is $1,385, so ZIP 10928 is 66% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 10928
BedroomsFY 2027Change90–110% range
Studio$1,600+5.3%$1,440–$1,760
1BR$1,790+4.1%$1,611–$1,969
2BR$2,300+4.5%$2,070–$2,530
3BR$2,900+3.9%$2,610–$3,190
4BR$3,050+1.7%$2,745–$3,355

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 10928
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,600$1,790$2,300$2,900$3,050
FY 2026$1,520$1,720$2,200$2,790$3,000
FY 2025$1,430$1,640$2,090$2,670$2,880
FY 2024$1,300$1,490$1,920$2,440$2,690
FY 2023$1,160$1,270$1,630$2,080$2,300

Two-bedroom rent in nearby Orange County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 10928
10917$2,590+12.6%
10918$2,340+1.7%
10919$2,180−5.2%
10921$2,430+5.7%
10922$2,010−12.6%
10924$2,190−4.8%
10925$2,020−12.2%
10926$2,730+18.7%
10928Current$2,300—
10930$2,600+13.0%
10932$2,160−6.1%
10933$2,410+4.8%

Questions about ZIP 10928 rents

How much will Section 8 pay for a two-bedroom in ZIP 10928?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,131, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,918 to $2,344 a month; under the ZIP-level Small Area FMR of $2,300 it would be $2,070 to $2,530. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 10928 in?

ZIP 10928 is in the Kiryas Joel-Poughkeepsie-Newburgh, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,131.

How much did fair market rent change in ZIP 10928 for FY 2027?

The two-bedroom FMR rose 4.5%, from $2,200 in FY 2026 to $2,300 in FY 2027. Since FY 2023 it has risen 41.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentHighland Falls, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources