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 | $215,500 | 0.47% | F |
| 3BR | $1,350 | $267,984 | 0.5% | F |
| 4BR | $1,400 | $339,873 | 0.41% | F |
| 5BR | $1,624 | $531,603 | 0.31% | F |
U.S. Census Bureau data (2024)
Mayville, NY, in ZIP code 14757, is a small suburban neighborhood with a population of 3,114 residents. Renters make up 22.4% of the housing market, indicating a predominantly owner-occupied community. The median household income stands at $67,115, which suggests a middle-class area where most residents can afford modest living expenses. The median home value in Mayville is $243,425, reflecting a stable residential market with affordable properties.
The Federal Market Rent (FMR) for ZIP 14757 is set at $970 for the fiscal year 2026, which is significantly higher than the current market rent of $712 as reported by the Census ACS. This gap between the FMR and market rent indicates an opportunity for landlords who can charge rents closer to the FMR without pricing out potential tenants. It also implies that there is room for improvement in property management and maintenance practices to justify higher rental rates.
Given these economic factors, ZIP 14757 could be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to market rent means that they can rely on Section 8 vouchers to cover a substantial portion of their rental income without much effort to increase occupancy rates. On the other hand, hands-on investors have the chance to enhance property values through renovations and better management, allowing them to command rents closer to the FMR and potentially earn higher returns on investment.
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.