Location: Seneca County, NY | Metro: Seneca 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 | $950 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $223,320 | 0.61% | D |
| 3BR | $1,840 | $244,137 | 0.75% | D |
| 4BR | $2,290 | $289,708 | 0.79% | D |
U.S. Census Bureau data (2024)
The ZIP code 14847, located in Interlaken, NY, is home to a population of 2,300 residents. With 17.4% of the population being renters, it indicates that this area is not heavily dominated by rental properties. The median household income stands at $73,594, which provides context when analyzing the local rental market.
The typical market rent in this area is $1,214 per month. This represents approximately 16.5% of the median household income. Given that the Fair Market Rent (FMR) for the metropolitan area is $1,260 for fiscal year 2026, the market rent in 14847 is slightly below the FMR, suggesting a competitive but fair rental market.
In terms of Section 8 voucher demand, the relatively low percentage of renters (17.4%) suggests that the availability of vouchers may be limited compared to areas with higher concentrations of renters. However, the median income and market rent figures indicate that there is still potential for Section 8 tenants who can afford the average rent without significant strain on their finances.
A landlord in ZIP 14847 should expect tenants who are likely to have a mix of incomes, some potentially benefiting from housing assistance programs such as Section 8. These tenants will be seeking affordable housing options that align with the $1,214 market rent. They would be individuals or families whose combined income is sufficient to cover rent while also meeting other living expenses, given the modest percentage of income dedicated to rent.
To summarize, while 14847 is not a renter-heavy ZIP, it does present opportunities for landlords and small-portfolio investors willing to cater to the needs of tenants with varying income levels, including those with Section 8 vouchers. The market rent is in line with the financial capabilities of the local population, making it a stable investment environment.
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.