Location: Cattaraugus 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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $840 | $105,006 | 0.8% | D |
| 2BR | $1,100 | $131,051 | 0.84% | C |
| 3BR | $1,360 | $172,566 | 0.79% | D |
| 4BR | $1,700 | $192,571 | 0.88% | C |
| 5BR | $1,972 | $223,634 | 0.88% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14727, which includes Cuba, NY, is set at $1,060 for the fiscal year 2026. This figure represents the payment standard under the Section 8 housing assistance program, meaning it's the maximum amount the government will pay towards your tenant's rent. It does not dictate what you can charge for rent, but it does limit how much of that rent can be covered by the Section 8 voucher.
To put this into perspective, the average rent in the area is currently $779, according to the Census Bureau's American Community Survey data. This suggests that the FMR is higher than the typical market rate, which could be beneficial if you're looking to attract Section 8 tenants while maintaining a competitive position in the local rental market.
With a renter share of 21.6%, there is a moderate demand for rental properties in the area. This percentage indicates the proportion of households that rent rather than own their homes. While it's not a high percentage, it still points to a viable market for Section 8 rentals, especially given the support of the government subsidy.
The median household income in ZIP 14727 is approximately $151,027. This figure is important when considering the acquisition cost of a property, as it reflects the economic conditions of the area. However, remember that Section 8 tenants typically have lower incomes, so the FMR is designed to ensure affordability for these individuals.
Before proceeding with a Section 8 rental, one key factor to verify is the condition of the property. The government requires that all Section 8 units meet certain standards known as Housing Quality Standards (HQS), which ensure the safety and habitability of the unit. These standards cover areas such as structural integrity, heating, plumbing, and electrical systems.
In summary, the FMR of $1,060 provides a clear benchmark for the subsidy you'll receive, which is above the local average of $779. With a 21.6% renter share, there is a reasonable demand for rental properties, and the median income of $151,027 gives an indication of the overall economic health of the area. Ensure your property meets HQS requirements to avoid complications once you've signed up for the program.
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.