Location: Steuben County, NY | Metro: Steuben 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 | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $126,672 | 0.8% | D |
| 3BR | $1,350 | $166,803 | 0.81% | C |
| 4BR | $1,700 | $170,568 | 1% | C |
U.S. Census Bureau data (2024)
The ZIP code 14801, located in Addison, NY, presents a unique opportunity for real-estate investors when considering both yield and stability. On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, while the local market rent stands at $805. This indicates that there is potential for higher rental yields compared to the broader market, but it also reflects a competitive environment where investors must be strategic about pricing.
When comparing the median home value of $147,573 against the FMR, the disparity suggests that rental properties could be priced at a premium to achieve better returns. However, the local market rent is lower than the FMR, which means landlords should be cautious not to price themselves out of the market.
Moving to the stability axis, the ZIP code shows that only 18.3% of residents are renters. This low percentage of renters can indicate less demand for rental housing, which could affect the ability to quickly lease out properties. The average daily days on market (DOM) data is not available, which makes it challenging to assess how quickly properties are typically leased. Lastly, the median household income of $63,125 provides insight into the economic conditions of the area, suggesting that while there is some financial stability among residents, it may not support higher rents.
In summary, ZIP 14801 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The key figures driving this assessment are the relatively low market rent of $805 compared to the metro FMR of $970, the modest median home value of $147,573, and the limited rental population of 18.3%. While the potential exists for slightly above-market rents, the overall economic conditions and rental demand suggest a more conservative approach to investment is warranted.
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.