Location: Chautauqua County, NY | Metro: Chautauqua 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 | $780 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $161,925 | 0.69% | D |
| 3BR | $1,480 | $211,510 | 0.7% | D |
| 4BR | $1,540 | $210,133 | 0.73% | D |
U.S. Census Bureau data (2024)
13.6% of Cassadaga, NY's residents are renters, indicating a moderate demand for rental properties in ZIP 14718. The $174,247 median home value suggests that the area is relatively affordable for potential homeowners but also implies that rental properties could be priced competitively. With a $870 market rent figure derived from Census ACS data, landlords can expect a steady cash flow from tenants in this region. However, it's important to note that the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,050, which is significantly higher than the current market rent. This discrepancy presents an opportunity for landlords to potentially increase their rents closer to the FMR without losing tenants.
$56,250 is the median income for the area, which is below the national average and indicates that many residents rely on financial assistance such as Section 8 vouchers. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut share, the lower median income and competitive market rent suggest that there might be challenges in finding tenants willing to pay higher rents without subsidies. Landlords should consider the local economic conditions when setting rent prices and preparing their properties for the market.
The Section 8 program can play a crucial role in stabilizing rental income and ensuring occupancy rates remain high. Given the $870 market rent compared to the $1,050 FMR, landlords who participate in Section 8 can benefit from a guaranteed tenant base and stable income, while still having room to adjust rents above the market rate. This makes ZIP 14718 a viable option for landlords and small-portfolio investors looking to leverage the Section 8 program for consistent returns.
Verdict: ZIP 14718 is a suitable location for Section 8 participation, offering a balance between manageable property values and a reliable tenant pool.
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.