Location: Allegany 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $117,586 | 0.86% | C |
| 3BR | $1,250 | $135,469 | 0.92% | C |
| 4BR | $1,610 | $160,693 | 1% | B |
U.S. Census Bureau data (2024)
The ZIP code 14813, located in Belmont, NY, is a part of Allegany County and has a unique profile among its peers. With a total population of 2,480 residents, only 19.7% of whom rent their homes, it stands out as predominantly owner-occupied. The median household income here is $63,750, which is relatively modest compared to other areas, but the median home value of $125,675 indicates a stable housing market.
When considering the impact of Section 8 vouchers, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the actual market rent, according to the Census American Community Survey, is $726. This suggests that landlords in ZIP 14813 can potentially benefit from accepting Section 8 vouchers, as they would receive a higher rental rate than the local market average. For small-portfolio investors, this could mean a more attractive return on investment when compared to purely market-driven rental rates.
Based on the data, ZIP 14813 appears to be a stable area, with a strong preference for homeownership and a moderate income level. The discrepancy between the FMR and the actual market rent provides an opportunity for landlords to leverage Section 8 vouchers effectively, ensuring a steady stream of income without the volatility often associated with transitional neighborhoods. Given these factors, Belmont, NY, offers a solid foundation for those interested in real estate investments, particularly those involving rental properties supported by government assistance programs.
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.