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 | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $103,150 | 1.42% | A |
U.S. Census Bureau data (2024)
The ZIP code 14720 stands out within its county due to several distinctive characteristics. With a population of 924 residents, it has a rental rate of 52.0%, indicating a significant portion of the housing market dedicated to renters. The median income here is $51,875, which is lower than the national average, yet the median home value sits at $94,992, suggesting that homeownership remains accessible despite the income levels.
For landlords and small-portfolio investors, the most relevant aspect is the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 14720, set at $1,080 for the fiscal year 2026, is notably higher than the current market rent of $934, as reported by the Census Bureau's American Community Survey. This means that landlords who participate in the Section 8 program can expect to receive higher rents than they would from typical market tenants, making the ZIP code attractive for those looking to leverage government subsidies to offset lower market rates.
The economic stability of ZIP 14720 can be assessed through its data signature. While the median income is relatively low, the median home value suggests that there is a balance in the housing market that allows for some stability. However, the high FMR compared to the actual market rent indicates a transitional phase where government intervention plays a crucial role in supporting affordable housing. This transitional nature presents both opportunities and challenges for landlords and investors, particularly in terms of tenant selection and long-term market dynamics.
To summarize, ZIP 14720 offers a unique blend of accessibility and support through the Section 8 program, with a clear advantage in rental rates for subsidized units. Its data signature points towards a transitional environment, influenced heavily by government assistance, which could be beneficial for those willing to navigate the nuances of the housing subsidy system.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.