Location: Cattaraugus County, NY | Metro: Allegany County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 14060 encompasses a tranquil suburban neighborhood characterized by a small population of 362 residents, indicating a close-knit community environment. Only 13.2% of the residents are renters, suggesting that homeownership is prevalent in this area. The median household income stands at $62,000, reflecting a middle-class demographic. The median home value is notably lower at $150,984, which could imply a more affordable housing market compared to other areas.
Turning to the rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. However, specific market rent data for ZIP 14060 is not available, making it challenging to directly compare local rents to the FMR. This lack of precise market rent figures might suggest a less competitive rental market, potentially due to the low percentage of renters in the area.
Given these conditions, ZIP 14060 would likely appeal more to a hands-off voucher operator than to a hands-on value-add buyer. The relatively low number of renters and the absence of robust market rent data indicate a limited demand for rental properties. For those interested in Section 8 investments, the area offers a stable but modest opportunity, with the potential to provide affordable housing without the complexities often associated with higher-demand markets.
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.