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 | $1,000 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $179,551 | 0.8% | D |
| 3BR | $1,890 | $237,149 | 0.8% | D |
| 4BR | $1,960 | $339,683 | 0.58% | F |
| 5BR | $2,274 | $481,721 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP 14750, located in Lakewood, NY, within the Chautauqua County, NY metro area, serves best as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) set at $1,370 for the fiscal year 2026 and the current market rent of $1,197. The FMR is established by the U.S. Department of Housing and Urban Development (HUD) and represents the maximum amount that can be charged for a rental property under the Section 8 program. Given that the FMR exceeds the market rent, landlords participating in Section 8 can expect to achieve higher rental income stability and predictability compared to purely market-based rentals.
The median home value in ZIP 14750 stands at $223,422, which is relatively modest. This indicates that the area is likely less prone to rapid appreciation and speculative investment activity, making it a solid choice for cash flow generation rather than capital appreciation. The lack of data regarding price-cut shares and days on market (DOM) further supports the notion that this ZIP code is not an ideal candidate for appreciation plays.
ZIP 14750 also offers some diversification benefits, with a 34.1% renter share and a median income of $66,622. These figures suggest a stable tenant base with sufficient income to support rental payments, even if they are not particularly high. Diversification through this ZIP code helps balance a portfolio by including areas where rental demand is steady and less volatile, contributing to overall financial stability.
In conclusion, ZIP 14750 is most effectively utilized as a cash-flow anchor due to the positive spread between HUD's FMR and the local market rent. Landlords can leverage this spread to ensure consistent and reliable income streams, while also benefiting from a stable tenant demographic and modest home values that contribute to a balanced portfolio.
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.