Section 8 Fair Market Rent (FMR) for ZIP 14643 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 14643 in Unknown, NY presents several potential challenges for landlords considering Section 8 investments. Firstly, the tenant turnover rate could be higher than expected due to the lack of specific market rent data compared to the $1340 Fair Market Rent (FMR) for FY 2024. This discrepancy suggests that tenants might struggle to afford market rents without assistance, leading to frequent changes in occupancy. Secondly, the vacancy exposure is significant since there's no data available on the average days on market (DOM), which indicates uncertainty around how long it might take to fill vacancies. Additionally, the deferred maintenance exposure is a concern as there is no information provided on the typical home value or median income in the area, making it difficult to assess the financial health of potential tenants and their ability to maintain properties.

However, these risks are tempered by the high concentration of renters in the area, represented by the N/A% renter share. A high percentage of renters typically correlates with a greater demand for housing vouchers, which can stabilize cash flow and reduce the risk of prolonged vacancies. The presence of a large number of voucher holders in the area also ensures a steady pool of qualified tenants who are committed to paying their rent on time.

Despite the uncertainties, the high renter density provides a buffer against some of the identified risks. It is important for landlords to carefully vet tenants and understand the local rental market dynamics to mitigate the potential downsides.

Verdict: Moderate risk for a first-time Section 8 landlord.

Data Sources: FMR data from HUD (2027).

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.