Location: Wyoming County, NY | Metro: Wyoming County, NY
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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $189,084 | 0.53% | F |
| 3BR | $1,340 | $280,117 | 0.48% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP code 14167, Varysburg, NY, include higher tenant turnover due to the significant gap between the market rent of $703 and the Fair Market Rent (FMR) of $970 for fiscal year 2026 in the metropolitan area. This discrepancy can lead to frequent changes in occupancy, which increases administrative burdens and operational costs.
Vacancy exposure is another concern, as the average days on market (DOM) is not available. Without this data, it's challenging to predict how quickly properties might fill when vacant. However, the typical home value of $233,031 and median income of $67,132 suggest that many residents may struggle to afford housing without assistance, potentially increasing the time it takes to find tenants.
Deferred maintenance is also a risk, particularly considering the relatively low median income. Landlords should be prepared to invest in property upkeep to meet housing quality standards required by the Section 8 program. The cost of maintaining these standards can be substantial, especially if the income from vouchers does not cover all expenses.
On the other hand, the 12.4% renter share indicates a high concentration of renters in the area, which typically correlates with greater demand for rental properties that accept Section 8 vouchers. This high demand can provide stability in finding and retaining tenants, mitigating some of the risks associated with vacancy and turnover.
A one-line verdict for a first-time Section 8 landlord in ZIP code 14167, Varysburg, NY, would be: Moderate risk.
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.