Location: Steuben County, NY | Metro: Steuben County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 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 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 14820 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $1,100 for fiscal year 2026. This figure represents the maximum amount that the housing authority will pay towards the rent of a two-bedroom unit under the Section 8 program. However, it's important to note that the local market rent for a similar unit is significantly lower, running at $854 according to the Census ACS.
A landlord participating in Section 8 receives reimbursement based on the voucher holder's income and the SAFMR. Typically, the voucher holder contributes 30% of their adjusted monthly income toward the rent. The remainder is covered by the government, up to the SAFMR limit. In addition to the base rent, there are utility allowances that vary but generally cover a portion of heating, cooling, electricity, and water costs. These allowances can range from $200 to $300 per month depending on the household size and location specifics.
To illustrate, if a voucher holder has an adjusted monthly income of $1,000, they would contribute $300 (30%) toward the rent. The government would then cover the difference up to the SAFMR limit of $1,100. So, for a two-bedroom apartment, the landlord could expect a reimbursement of $800 from the government, assuming the utility allowance is $300. This totals $1,100, which is the SAFMR for the area.
Given the local market rent of $854, landlords might initially think they will receive less than the market rate. However, because the SAFMR is higher than the market rent, landlords can still charge the market rate and receive the full $854 from the tenant plus the additional $246 from the government, making the total reimbursement $1,100. This leaves a surplus of $246 above the local market rent, providing landlords with a buffer that can be used to cover maintenance costs or other expenses associated with renting out the property.
In summary, for a two-bedroom apartment in ZIP code 14820, landlords can expect a typical reimbursement gap or surplus of $246 when accounting for both the tenant's contribution and the government's voucher payment. This surplus ensures that landlords are not only covering their costs but also benefiting financially from the Section 8 program.
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.