Location: Allegany County, NY | Metro: Allegany County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
10.3% of the population in ZIP 14714 rents their homes, indicating a significant but not overwhelming presence of renters. The $1,290 Fair Market Rent (FMR) for the metro area in fiscal year 2026 is notably higher than the $875 average market rent reported by the Census ACS, suggesting that landlords could potentially benefit from participating in the Section 8 program. With a median home value of $154,056, the area presents a moderate investment opportunity, especially for those looking to enter the rental market.
$115,230 is the median income for ZIP 14714, which is above the national average, pointing to a relatively affluent community. However, the disparity between the FMR and the market rent indicates that there is a segment of the population that may struggle to afford housing without assistance. This gap can be filled by landlords who accept Section 8 vouchers, thereby ensuring a steady stream of tenants.
The lack of data on days on market (DOM) and the percentage of price-cut shares suggests stability in the local real estate market. Tenants and buyers are likely finding properties at their desired prices without prolonged searches or significant reductions in asking prices. This consistency can be beneficial for landlords and small-portfolio investors who prefer predictability over volatility.
In ZIP 14714, the potential for profit exists, particularly for those willing to navigate the nuances of the Section 8 program. The difference between the FMR and the market rent offers a compelling incentive for landlords to participate, given the moderate cost of living and the affluence of the area. Landlords should consider the benefits of providing affordable housing options while maintaining financial viability.
Verdict: ZIP 14714 presents a favorable environment for Section 8 participation due to the higher FMR compared to the market rent, ensuring profitability for landlords.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.