Section 8 Fair Market Rent (FMR) for ZIP 14842 - 2027

Location: Yates County, NY | Metro: Yates County, NY

Investment Score for ZIP 14842

N/A

Monthly Rent (2BR)

$1,040

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$730
1 Bedroom	$800
2 Bedrooms	$1,040
3 Bedrooms	$1,340
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,340	$434,316	0.31%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

802

Median Household Income

$74,821

Housing Units

744

Renter Percentage

36.6%

Occupancy Rate

37.5%

Renter Occupied

102

The zip code 14842, located in Western New York, encompasses a mix of suburban neighborhoods that offer both affordability and proximity to urban amenities. This area has seen steady growth in recent years, making it an attractive investment opportunity for landlords and small-portfolio investors looking to capitalize on the local real estate market.

Fair Market Rent (FMR): The FMR for a two-bedroom apartment in ZIP 14842 for fiscal year 2024 is set at $1040, providing a benchmark for rental pricing that landlords should consider.
Market Rent: According to the latest Census ACS data, the average market rent for properties in this zip code stands at $859, indicating a slightly lower actual rental price compared to the FMR.
Median Home Value: The median home value in ZIP 14842 is $385,692, reflecting the overall stability and value of the housing stock in the area.
Renter Share: With 36.6% of residents being renters, there is a significant demand for rental properties, suggesting strong potential for occupancy rates.
Days on Market (DOM): Data for days on market is currently unavailable, which could indicate either a highly efficient local real estate market or limitations in available data.
Median Income: The median household income in the area is $74,821, which supports the ability of tenants to afford higher rents without compromising their financial health.

In summary, ZIP 14842 presents a balanced real estate market with a robust tenant base and reasonable property values. The gap between the Fair Market Rent and the actual market rent offers landlords a chance to increase their rental income closer to the FMR level. The median income suggests that tenants can handle rent increases, while the high percentage of renters ensures a consistent demand for rental properties. Despite the lack of specific days on market data, the other indicators point towards a stable and potentially lucrative investment environment for those interested in the local real estate market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.