Location: Allegany County, NY | Metro: Rochester, NY MSA
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 | $1,150 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $118,422 | 1.28% | A |
| 3BR | $1,880 | $138,232 | 1.36% | A |
| 4BR | $2,400 | $136,301 | 1.76% | A+ |
U.S. Census Bureau data (2024)
The rent math in ZIP 14822 (Canaseraga, NY, Allegany County, NY metro) does not work favorably for landlords. The Fair Market Rent (FMR) set at $1160 for the fiscal year 2024 is higher than the actual market rent, which stands at $950 according to Census ACS data. This discrepancy means that landlords aiming to meet the FMR will likely face challenges in finding tenants willing to pay the higher rate.
Acquisition in this area is relatively affordable, with a median home value of $117,677. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market might be less active or transparent compared to other areas. This could indicate slower sales cycles or less competition among buyers, but it also means that landlords need to be cautious about potential overvaluation or undervaluation of properties.
Tenant demand in ZIP 14822 is limited. With a total population of only 851, and a renter share of 11.9%, there are fewer potential tenants available. This low number of renters can make it difficult to fill vacancies quickly, especially if the rent is set at the higher FMR level.
In summary, while the cost of acquiring a property in Canaseraga, NY, is relatively low, the rent math is unfavorable due to the gap between FMR and market rent. Additionally, the limited tenant pool makes it challenging to secure steady rental income. Landlords and small-portfolio investors should carefully consider these factors before investing in this ZIP code.
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.