Location: Steuben County, NY | Metro: Schuyler 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 | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $147,627 | 0.91% | C |
| 3BR | $1,790 | $193,561 | 0.92% | C |
| 4BR | $2,250 | $326,451 | 0.69% | D |
| 5BR | $2,610 | $405,510 | 0.64% | D |
U.S. Census Bureau data (2024)
In ZIP code 14870, which encompasses Painted Post, NY, in Steuben County, the economics of Section 8 housing vouchers can be clearly understood by examining the SAFMR (Small Area Fair Market Rent) and the local market rent rates. For fiscal year 2026, the SAFMR for a two-bedroom apartment is set at $1,380. This figure is specifically tailored for this ZIP code, reflecting the unique rental dynamics of the area.
The local market rent, as measured by ZORI (Zillow Observed Rent Index), stands at $1,408. This indicates that the average rent for a two-bedroom unit in Painted Post exceeds the SAFMR by $28. Landlords should be aware that the SAFMR is the maximum amount that a Section 8 voucher will cover, meaning they cannot charge more than this rate to receive full reimbursement from the program.
A Section 8 voucher payment is structured such that the tenant contributes a portion of their income towards rent, typically 30% of their adjusted monthly income. The remaining balance is then paid by the housing authority up to the SAFMR limit. In addition to the base rent, there are utility allowances that vary based on the number of bedrooms and geographic location. For a two-bedroom unit in ZIP 14870, the utility allowance is included in the overall reimbursement but does not exceed the SAFMR cap.
To illustrate, if a tenant's portion of the rent is $300, the housing authority would pay the difference between the tenant's contribution and the SAFMR. In this case, it would be $1,380 minus $300, equaling $1,080. Therefore, the total reimbursement to the landlord would be $1,380, which includes both the tenant's contribution and the housing authority's subsidy.
Given that the local market rent is slightly higher than the SAFMR, landlords accepting Section 8 vouchers in ZIP 14870 face a reimbursement gap. Specifically, for a two-bedroom unit, the gap is $28. This means landlords must decide whether the administrative ease of receiving timely payments from the housing authority outweighs the potential loss compared to market rents.
In summary, landlords in ZIP 14870 can expect to receive a total reimbursement of $1,380 for a two-bedroom unit under the Section 8 program, which is $28 less than the local market rent of $1,408. This economic reality shapes the decision-making process for landlords considering participation in the Section 8 program.
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.