Location: Wyoming County, NY | Metro: Allegany 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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,410 | $159,824 | 0.88% | C |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 14536 presents several challenges for landlords and small-portfolio investors considering Section 8 properties. One significant risk is tenant turnover, which is likely to be higher due to the disparity between the market rent of $717 and the Federal Market Rent (FMR) of $1,100 for fiscal year 2026. This gap can lead to dissatisfaction among tenants who might prefer higher-quality housing that matches the FMR, increasing the likelihood of frequent moves.
Vacancy exposure is another concern. With the days on market (DOM) being listed as N/A, it's unclear how long properties typically remain vacant before finding a tenant. However, given the lower market rent compared to the FMR, landlords should anticipate potential difficulties in filling vacancies quickly, especially if there is a preference for higher-rent properties that offer better quality.
Deferred maintenance poses a substantial risk, particularly when considering the typical home value of $137,043 and the median income of $63,125. The median income suggests that many residents may struggle to afford regular maintenance costs, leading to potential neglect of properties. This could result in higher repair and renovation expenses for landlords, especially those new to managing Section 8 properties.
Despite these risks, the high renter share of 30.0% in ZIP 14536 indicates a robust demand for rental housing. This density often translates into a strong need for Section 8 vouchers, providing a stable source of tenants for landlords willing to navigate the program's requirements. The combination of a large number of renters and the availability of federal assistance can mitigate some of the financial risks associated with maintaining and managing rental properties.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.