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 | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $117,890 | 0.86% | C |
| 3BR | $1,350 | $141,210 | 0.96% | C |
| 4BR | $1,400 | $164,162 | 0.85% | C |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 14733, located in Falconer, NY, presents a unique set of conditions that landlords and small-portfolio investors should consider when evaluating their pricing power and long-term investment strategies.
The median home value in Falconer stands at $129,729. This figure, combined with the absence of percentage reductions in listings and the unspecified median days on market (DOM), suggests a stable housing market with limited volatility. The lack of significant price reductions indicates that homeowners are holding firm to their asking prices, which can be interpreted as a sign of confidence in the local economy or a reflection of the limited supply of homes for sale.
On the rental side, the Federal Market Rent (FMR) for fiscal year 2026 is projected at $970, while the current market rate is recorded at $632 according to the Census American Community Survey (ACS). This gap between the FMR and the actual market rate signals an opportunity for landlords to gradually increase rents without significantly deterring tenants, given the relative affordability of the area and the potential for government-assisted housing programs to support higher rental rates.
For long-hold investors, the appreciation thesis in Falconer is nuanced. With the median home value being relatively low and the current economic indicators pointing towards stability rather than growth, it's unlikely that there will be substantial increases in property values over the next 12-24 months. However, the gradual rise in rental rates, as indicated by the FMR projections, suggests that income from rentals could appreciate more steadily than the underlying property value.
In summary, the current setup in ZIP 14733 favors a strategy focused on rental income growth rather than rapid property value appreciation. Investors should expect steady but modest gains in rental rates, complemented by a stable housing market that minimizes the risk of sudden price drops.
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.