Location: Wyoming County, NY | Metro: Genesee County, NY
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 | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $210,486 | 0.5% | F |
| 3BR | $1,330 | $250,864 | 0.53% | F |
| 4BR | $1,670 | $254,519 | 0.66% | D |
| 5BR | $1,937 | $269,193 | 0.72% | D |
U.S. Census Bureau data (2024)
The potential risks for landlords investing in Section 8 properties in ZIP code 14011, located in Attica, NY, are significant and must be carefully considered. Firstly, tenant turnover poses a substantial challenge due to the discrepancy between the market rent of $821 and the Fair Market Rent (FMR) of $980 for the fiscal year 2026 in the metropolitan area. This gap suggests that tenants might find it difficult to afford the higher FMR, leading to frequent moves and increased vacancy periods.
Vacancy exposure is another critical issue. The data shows that the days on market (DOM) for vacant properties is not available, which could indicate either a very quick turnover or a lack of reliable data. In either case, landlords should prepare for the possibility of extended vacancy periods, which can significantly impact cash flow.
Deferred maintenance is also a concern. With a typical home value of $223,732 and a median household income of $74,946, many residents may struggle to keep up with necessary repairs and maintenance. Landlords will need to budget for these costs, as they cannot rely on tenants to cover them.
However, these risks are tempered by the high renter share in the area, which stands at 21.9%. High renter density often translates into greater demand for rental housing, including Section 8 vouchers. This increased demand can help mitigate the risk of vacancies and ensure a steady stream of tenants who are willing and able to use their vouchers to secure housing.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP code 14011 is moderate. While there are significant challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the high renter share provides a buffer against some of these risks. Landlords should proceed with caution, but the potential benefits of a strong rental market make this an investment worth considering with careful planning and management.
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.