Location: Genesee County, NY | Metro: Buffalo-Cheektowaga, 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 | $850 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $155,814 | 0.76% | D |
| 3BR | $1,440 | $191,945 | 0.75% | D |
| 4BR | $1,580 | $205,105 | 0.77% | D |
| 5BR | $1,833 | $251,283 | 0.73% | D |
U.S. Census Bureau data (2024)
The ZIP code 14103, located in Medina, NY, stands out within Orleans County due to its unique demographic and economic profile. With a population of 10,810, it has a rental rate of 29.6%, indicating a significant portion of the community resides in leased properties. The median income in this area is $69,926, which is relatively strong compared to other rural areas. However, the median home value of $172,658 suggests that homeownership is somewhat less affordable, especially when considering the local rental market.
In terms of voucher economics, ZIP 14103 offers an interesting perspective. The Fair Market Rent (FMR) for the area is set at $1,140 for fiscal year 2024, while the actual market rent is around $920 according to the latest Census American Community Survey (ACS) data. This discrepancy means that landlords participating in the Section 8 program can expect to receive higher rents through vouchers than they would in the open market. For small-portfolio investors, this presents a stable income source, albeit with the administrative overhead associated with the Housing Choice Voucher Program.
The data signature for ZIP 14103 reads as stable. Despite the relatively high FMR compared to market rates, the consistent income levels and rental demand suggest that the area is not undergoing rapid changes. Landlords and investors can rely on steady occupancy and rental income, making it a reliable investment option. However, the slight increase in FMR over market rates could indicate a gradual upward trend in housing costs, suggesting a potential transitional phase in the future.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.