Location: Steuben County, NY | Metro: Steuben County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
The market analysis for Section 8 investors in ZIP code 14856, located in Steuben County, NY, reveals several key points that are essential for understanding the investment landscape.
The Fair Market Rent (FMR) as determined by the U.S. Department of Housing and Urban Development (HUD) for the Steuben County, NY metro area for fiscal year 2026 is set at $1,080. This figure represents the maximum amount that landlords can charge voucher holders for rent. However, due to the lack of available data on current market rents, it's challenging to directly compare the HUD FMR against what the local market is currently offering. This absence of market rent data could indicate a less active rental market or a scarcity of recent listings, which would be important considerations for investors looking to gauge demand.
The median home value in the area is also not provided, making it difficult to calculate a precise rent-to-price ratio. Nevertheless, a general understanding of the real estate market suggests that areas with lower median home values often correlate with lower market rents, potentially allowing voucher tenants to cashflow at the HUD FMR rate. Without specific numbers, we cannot definitively state whether voucher tenants will cashflow at the FMR, marginally, or only with premium units, but the lack of high-priced homes might support a cashflow scenario at the FMR level.
The days on market (DOM) and price-cut share percentages are not provided either, which are typically indicative of the balance between renting and buying. These metrics help determine how quickly properties sell and at what discount, reflecting broader trends in the housing market. The absence of these figures means we cannot make a detailed assessment of how well renting compares to buying in terms of speed and pricing, though they are crucial for understanding the overall market dynamics.
In conclusion, based on the available data, the strongest investor angle in ZIP code 14856 appears to be stability. With the HUD FMR providing a reliable income floor and the potential for cashflow without relying on premium units, this area offers a predictable and consistent rental environment, especially appealing to small-portfolio investors seeking steady returns.
Data Sources: FMR data from HUD (2027).
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.