Location: Allegany 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 | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $119,758 | 0.93% | C |
| 3BR | $1,370 | $127,444 | 1.07% | B |
| 4BR | $1,760 | $123,653 | 1.42% | A |
U.S. Census Bureau data (2024)
16.7% of residents in ZIP 14739, Friendship, NY, are renters, indicating a moderate demand for rental properties in the area. The $113,582 median home value suggests that homeownership is relatively affordable compared to many other regions. However, the $825 market rent based on Census ACS data reveals that rental prices are lower than what might be expected given the median home value. This discrepancy can impact the profitability of rental investments.
$1,040 is the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which is higher than the current market rent of $825. This difference indicates potential for landlords to increase their rents if they qualify for Section 8 subsidies. It also highlights the affordability challenges faced by renters in Friendship, NY, where the median income stands at $57,794. This figure underscores the financial constraints many local tenants face, making subsidized housing an attractive option.
The absence of data for days on market (DOM) and the percentage of homes that have had their prices cut implies stability in the real estate market. Without significant fluctuations in property values or prolonged periods of unsold inventory, investors can expect steady performance from their investments in Friendship, NY.
In conclusion, for landlords and small-portfolio investors, ZIP 14739 presents a balanced opportunity. With a moderate renter population and stable home values, the potential to leverage the $1,040 FMR for Section 8 subsidies could enhance investment returns. Given the current market conditions and the availability of Section 8 funding, investing in rental properties in Friendship, NY, is advisable.
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.