Location: Cattaraugus County, NY | Metro: Cattaraugus 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 | $820 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $135,884 | 0.82% | C |
| 3BR | $1,410 | $173,637 | 0.81% | C |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 14743, located in Hinsdale, NY, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area is set at $1,090 for fiscal year 2026, while the Census ACS reports that the market rent stands at $850. This means that the FMR is $240 higher than the market rent, representing an increase of approximately 28.2%.
The discrepancy between these two figures is advantageous for landlords and small-portfolio investors who participate in the Section 8 program. By accepting voucher tenants, landlords can achieve a higher rental yield compared to renting properties at the open-market rate. This is particularly beneficial given that only 22.1% of residents in Hinsdale, NY, are renters, indicating a relatively low demand for rental properties in the area.
In this context, the median home value of $147,662 and the median income of $57,244 suggest that many homeowners in Hinsdale, NY, may struggle to afford higher rents. Therefore, the Section 8 program allows landlords to charge closer to the FMR of $1,090, which is above the typical market rate of $850. This higher rent can help cover property management costs, maintenance expenses, and other overheads associated with owning rental properties.
However, it's important to note that participating in the Section 8 program also comes with its own set of regulations and requirements. Landlords must ensure that their properties meet certain standards and are inspected regularly. Additionally, the process of obtaining and managing Section 8 vouchers can be time-consuming and requires a thorough understanding of the program rules.
To summarize, the gap between the FMR and market rent in ZIP code 14743 presents an opportunity for landlords to increase their rental income by accepting Section 8 voucher tenants. This makes the area a yield play, especially considering the limited number of renters and the financial situation of the local population.
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.