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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $151,338 | 0.89% | C |
U.S. Census Bureau data (2024)
ZIP code 14784, located in Chautauqua County, NY, serves as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990, while the current market rent stands at $679. This creates a significant spread of $311 between the FMR and the market rent, ensuring that landlords receive above-market rents for their properties.
The median home value in ZIP 14784 is $127,740, which is relatively low compared to other areas in New York. This makes it an ideal location for investors looking to secure steady cash flow without the risk of high property values. The guaranteed higher rental income from Section 8 vouchers provides a stable financial base for any real estate investment portfolio.
Although there are no specific figures provided for price-cut shares or days on the market (DOM), the lack of these metrics suggests that the area does not exhibit strong characteristics of an appreciation play. Typically, appreciation plays would show signs of rising property values, short DOM periods, and lower price-cut shares, none of which are indicated here.
The ZIP code also offers some diversification benefits with a 23.6% renter share, meaning that nearly a quarter of the population are renters. Additionally, the median income of $77,750 indicates a moderate economic environment where a mix of tenants can be expected, including those eligible for Section 8 assistance. However, the primary role of ZIP 14784 in a Section 8 portfolio strategy is as a cash-flow anchor due to the substantial difference between the FMR and the local market rent.
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.