Location: Steuben County, NY | Metro: Allegany 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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $161,018 | 0.68% | D |
| 3BR | $1,440 | $181,607 | 0.79% | D |
| 4BR | $1,830 | $205,952 | 0.89% | C |
U.S. Census Bureau data (2024)
Arcport, NY, located in ZIP code 14807, is a modest-sized community with a population of 2,681 residents. Only 10.9% of these residents are renters, indicating a predominantly owner-occupied area. The median household income stands at $64,408, which is relatively stable and suggests a middle-class neighborhood. Median home values in Arcport are set at $167,403, reflecting an affordable housing market.
The economic landscape of Arcport is further defined by its rental dynamics. According to the Fair Market Rent (FMR) established for the metro area for fiscal year 2026, the FMR is $1,140. However, the actual market rent, based on Census American Community Survey (ACS) data, is significantly lower at $868 per month. This discrepancy between FMR and market rent could present opportunities for investors interested in leveraging the Section 8 Housing Choice Voucher program. Landlords can potentially benefit from higher guaranteed rents through the voucher program compared to the local market rates.
Given these conditions, Arcport might be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. A hands-on approach would allow investors to improve properties and increase their market value, aligning them closer to the FMR while also enhancing the quality of life for tenants. For those looking to manage properties with minimal involvement, the low percentage of renters and the potential for limited voucher participation may pose challenges. Instead, focusing on areas with a higher concentration of renters could provide better returns for hands-off operators.
In summary, Arcport's demographics and economic indicators suggest a niche opportunity for investors willing to engage actively in property management and enhancement. The difference between FMR and market rent presents a tangible financial incentive for those who can commit to improving and maintaining rental properties.
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.