Section 8 Fair Market Rent (FMR) for ZIP 14136 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 14136

• Jamestown Housing Authority (Jamestown, NY) - 272 Section 8 vouchers
• Southern Tier Environments for Living (Jamestown, NY) - 25 Section 8 vouchers
• Dunkirk Housing Authority (Dunkirk, NY)

To determine if a landlord should buy in ZIP code 14136 (Silver Creek, NY) for Section 8 investment, follow these steps:

• If the answer to the first question is yes: Does the Fair Market Rent (FMR) of $1,100 cover the debt service on a property valued at $184,686? If so, proceed to the second question.
• If the answer to the first question is no: The FMR does not cover the debt service, making it financially unfeasible to invest in this area for Section 8 without additional considerations such as rental income from non-Section 8 tenants or other sources of revenue. Do not proceed further.

Second Question: Is the market rent of $952 (based on Census ACS data) above, at, or below the FMR?

• If the market rent is above the FMR: This indicates that there is potential for higher returns beyond what the FMR offers. However, the viability still hinges on whether the FMR can cover debt service.
• If the market rent is at or below the FMR: There is less upside potential in terms of market rent. The investment's feasibility relies heavily on the FMR covering debt service. Given that the FMR of $1,100 is above the market rent of $952, the landlord should consider the FMR as the primary source of income.

Third Question: Do the demographics support sufficient demand? Specifically, do the 18.1% of renters and the unknown days on the market (DOM) indicate enough demand for Section 8 properties?

• If there is sufficient demand: The 18.1% of renters suggests a moderate level of rental activity. While the DOM is listed as N/A, the presence of renters implies some level of turnover and demand. If the FMR covers debt service and market rent is at or below FMR, then the answer is yes, it makes sense to invest in this area.
• If there is insufficient demand: The unknown DOM could mean either high or low turnover rates. Without this critical information, it's challenging to make a definitive decision. However, given the 18.1% of renters, the demand appears to be modest but present. The landlord would need to weigh this against the financials derived from the FMR and market rent.

In conclusion, for ZIP 14136 (Silver Creek, NY), the decision to invest in Section 8 properties depends on whether the FMR of $1,100 can clear the debt service on a property valued at $184,686. If it does, and market rent is at or below FMR, the investment is feasible. The 18.1% of renters provides a base level of demand, but the unknown DOM adds uncertainty. Landlords must balance these factors carefully before making an investment decision.

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.