Section 8 Fair Market Rent (FMR) for ZIP 14778 - 2027

Location: Cattaraugus County, NY | Metro: Cattaraugus County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$820
2 Bedrooms	$1,050
3 Bedrooms	$1,320
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,539

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

N/A

Renter Occupied

To determine if a landlord should buy in ZIP code 14778 for Section 8 purposes, follow this decision tree based on the available data.

Step 1: The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040. Does this figure cover the debt service on a property in this ZIP code?

No: If the FMR does not cover the debt service, purchasing a property in ZIP 14778 for Section 8 is not advisable. The landlord would be operating at a loss.
Yes: Proceed to Step 2.

Step 2: What is the relationship between the market rent and the FMR of $1,040?

Market rent is below FMR: This suggests that the rental market is favorable for Section 8 tenants, as the government subsidy will likely cover most or all of the rent. Landlords can consider purchasing properties here, but they must ensure the FMR covers their debt service.
Market rent is equal to or above FMR: In this scenario, landlords might struggle to find tenants willing to pay the full market rent. It depends on whether the landlord can secure enough Section 8 vouchers to cover the difference between the market rent and the FMR. If not, purchasing here is not recommended.

Step 3: Evaluate the demand for rentals in ZIP 14778. Specifically, look at the percentage of renters and the days on market (DOM).

N/A% of renters + N/A-day DOM: Without specific percentages and DOM figures, it's impossible to make a definitive statement. However, generally speaking, a higher percentage of renters and lower DOM suggest strong demand, making ZIP 14778 more attractive for Section 8 investments. Conversely, a low percentage of renters and high DOM indicate weak demand, which could result in prolonged vacancies and financial strain.

Note: The analysis is limited by missing data points such as the exact percentage of renters and the average DOM. These details are critical for a thorough assessment and should be sought out before making any investment decisions.

Data Sources: FMR data from HUD (2027). 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.