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 | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $140,372 | 0.78% | D |
| 3BR | $1,450 | $198,311 | 0.73% | D |
| 4BR | $1,840 | $246,414 | 0.75% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14821, which includes Campbell, NY, is set at $1,200 for fiscal year 2026. This figure represents the payment standard for landlords participating in the Section 8 program. It's important to note that this is not the amount you will charge tenants for rent; rather, it's the maximum subsidy amount the government will pay towards the rent.
To put this into perspective, the average rent in the area is $894, according to the Census Bureau's American Community Survey. This means that while the FMR is higher, it does not necessarily reflect the actual market rent. However, as a landlord, you can set your rent up to $1,200 for Section 8 participants, ensuring you receive a fair income.
In ZIP 14821, 18.3% of residents are renters. This indicates a moderate demand for rental properties, making it a reasonable area to consider for your first Section 8 rental. While this percentage shows there is a segment of the population seeking rentals, it also suggests that the competition among landlords might be moderate, allowing you to attract tenants effectively.
The median home value in the area is approximately $176,144. This figure is crucial when considering the initial investment required to acquire a property. It's essential to factor in the acquisition cost, along with potential renovation expenses, to ensure that the property will generate a positive cash flow when rented out under the Section 8 program.
Before proceeding with your first Section 8 rental, verify that the property meets all the necessary requirements for the program, including safety and habitability standards. This ensures compliance and avoids any issues that could arise from renting an unqualified property.
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.