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 | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $101,745 | 0.99% | C |
| 3BR | $1,280 | $138,227 | 0.93% | C |
U.S. Census Bureau data (2024)
The market in ZIP code 14753, Limestone, NY, presents a dynamic environment that is worth examining closely. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026 indicates an anticipated increase in rental prices compared to the current market rent of $722, as reported by the Census ACS. This suggests a potential upward trajectory in rental values, which could be driven by various factors including economic growth, population shifts, or changes in local policies.
The median home value of $111,831 is notably low, reflecting a segment of the housing market that might appeal to first-time buyers or those seeking affordable housing options. However, the lack of specific data on price-cut share and days on market (DOM) means we cannot conclusively determine if supply currently outpaces demand or vice versa. These metrics would provide insights into the balance between available properties and interested buyers or renters.
A key statistic to consider is the 25.0% renter share. This percentage implies that a significant portion of the population in Limestone relies on rental housing, which can exert long-term pressure on the housing market. High renter shares often correlate with steady demand for rental properties, making it a potentially stable investment area for landlords and small-portfolio investors. However, it also suggests that a considerable number of residents may face challenges in transitioning to homeownership due to affordability issues or other barriers.
The discrepancy between the FMR and the current market rent points to an opportunity for landlords to adjust their pricing strategies. As the FMR is higher, there is room for increasing rents, but doing so should be carefully considered against the backdrop of the local economy and the ability of tenants to pay. The relatively low median home value could indicate a broader trend of affordability, which might attract more residents to the area, thereby sustaining or even increasing the demand for rental housing.
In conclusion, ZIP 14753 appears to be a market where rental demand is supported by a substantial renter population, and there are indications of growing rental prices. For investors, this suggests a potentially favorable environment for rental investments, provided they are attentive to the local economic conditions and the needs of their tenants.
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.