Location: Allegany County, NY | Metro: Allegany County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14029 in metro FY 2026 is set at $1,050. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the amount your tenant will pay in rent; it's the maximum amount the government will subsidize towards rent.
To put this into perspective, the local median rent for ZIP 14029 is currently listed as N/A, which makes direct comparison challenging. However, given that 16.7% of the population are renters, there is a significant demand for affordable housing options. This suggests that if you can offer a well-maintained property within the voucher limits, you should have a steady stream of tenants interested in renting.
The acquisition cost for properties in this area is also noted as N/A. This lack of specific data means you'll need to do some research on recent property sales or listings to determine a reasonable price range for purchasing a rental property.
Before you decide to participate in the Section 8 program with a rental in ZIP 14029, verify that the condition and amenities of your property meet the Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary, and they vary by locality. Meeting these requirements is essential because failing to comply can result in reduced payments or even termination of the contract.
In summary, with an FMR of $1,050, you can expect a reliable source of income through government subsidies. The high renter share indicates strong potential for occupancy. Ensure your property meets HQS to avoid any issues that could affect your participation in the program.
Data Sources: FMR data from HUD (2027). 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.