Location: Chautauqua County, NY | Metro: Chautauqua County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 14135 presents an interesting scenario for both renters and landlords. With a median household income of $80,833, the area's economic profile suggests a moderate financial capability among its residents. However, the absence of specific market rate data for this ZIP makes it challenging to assess how affordable the rental market is for typical households.
Turning to the Section 8 program, the Fair Market Rent (FMR) set at $1,090 for the metro area in fiscal year 2026 provides a benchmark for subsidized housing. This figure represents the maximum amount that a landlord can receive per month through the voucher program for a standard unit. It's important to note that this standard is intended to cover approximately 40% of the area's median income, making it accessible for low-income families.
Given that only 18.3% of the 90-person population are renters, the competition for tenants in ZIP 14135 is relatively low compared to densely populated urban areas. However, the affordability gap between the median income and the market rate, if it exists, could significantly impact the pool of potential cash-paying tenants. If the market rate is higher than what most renters can afford, landlords might find themselves relying more heavily on voucher recipients to fill vacancies.
For landlords considering their tenant strategy, focusing on voucher acceptance can be a reliable approach given the lower percentage of renters and the need to ensure steady occupancy. Vouchers provide a guaranteed source of income, albeit at a fixed rate, which can offer stability in a potentially tight rental market. On the other hand, landlords who can attract cash-paying tenants willing to pay above the FMR will likely see higher returns but must be prepared to compete more actively for these tenants.
The takeaway is clear: landlords in ZIP 14135 should consider the balance between voucher and cash-paying tenants. Accepting vouchers can secure consistent rental income, while catering to higher-paying cash tenants can boost profitability. Given the limited data, understanding local market dynamics and the preferences of the local rental population is crucial for making informed decisions.
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.