Location: Cattaraugus 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 | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $234,535 | 0.43% | F |
| 3BR | $1,240 | $270,733 | 0.46% | F |
| 4BR | $1,420 | $293,733 | 0.48% | F |
| 5BR | $1,647 | $293,448 | 0.56% | F |
U.S. Census Bureau data (2024)
ZIP 14141, located in Springville, NY within the Cattaraugus County, NY metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $970, which is significantly higher than the local market rent of $721. This creates a spread of $249 per unit, ensuring a steady and reliable income stream that outpaces the typical market rates.
The median home value in ZIP 14141 is $250,623. While this figure is important for understanding the overall property values in the area, it is the rental income that directly impacts cash flow for landlords and small-portfolio investors. Given the substantial difference between the FMR and the market rent, landlords can expect a consistent cash flow without the volatility often associated with non-subsidized properties.
The appreciation potential in ZIP 14141 is limited, with no significant percentage increase in property values noted. The Days on Market (DOM) and price-cut share data are also not available, suggesting that the market is stable rather than rapidly appreciating. Therefore, this area does not qualify as an appreciation play within a Section 8 portfolio strategy.
ZIP 14141 offers a modest diversification opportunity with a 26.2% renter share. However, the median income of $80,906 indicates that the majority of residents are likely employed and can afford standard market rents. This makes the area less suitable as a primary diversification strategy but still valuable for broadening a landlord's investment base.
In conclusion, ZIP 14141 is best positioned as a cash-flow anchor in a Section 8 portfolio. The guaranteed higher rental income through the FMR subsidy ensures a stable financial foundation for investors, especially those looking to balance their portfolios with low-risk, high-reward investments. The spread of $249 between the FMR and market rent provides a clear advantage over typical market conditions, making this ZIP code a solid choice for generating predictable cash flow.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.