Location: Steuben County, NY | Metro: Steuben County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
ZIP code 14874, located within the Steuben County, NY metro area, exhibits several characteristics that position it distinctly among other ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 14874 is set at $1,200 for fiscal year 2026, which is notably lower than the market rent of $1,583. This suggests that the ZIP code is likely a value pocket within the metro area, offering rental properties at rates below what the market would naturally dictate.
The median home value in ZIP 14874 stands at $279,460, which is also indicative of a relatively affordable neighborhood compared to other areas within the same county. This figure aligns well with the inference that 14874 is a value pocket, as it supports the idea of an overall lower cost of living relative to surrounding areas.
A significant factor in assessing the attractiveness of ZIP 14874 to landlords and small-portfolio investors is the 17.1% renter share. While this percentage is not exceptionally high, it does suggest a reasonable demand for rental properties. When combined with the lower FMR and median home value, the data points towards a potentially lucrative opportunity for those willing to engage with the Section 8 housing program.
To further contextualize, typical ZIP codes within Steuben County might have higher market rents and home values, reflecting a broader range of housing options and economic activities. However, the specific figures for ZIP 14874 indicate a niche market where affordability is key, making it a strategic location for investors focused on value pockets rather than premium sub-markets.
In summary, ZIP 14874 appears to be a value pocket within the Steuben County, NY metro area. Its lower FMR and median home value, coupled with a moderate renter share, make it a viable option for landlords and small-portfolio investors seeking stable returns through participation in the Section 8 program. The divergence between the FMR and market rent, alongside the median home value, supports the notion that this ZIP code could be particularly advantageous for those looking to capitalize on affordable housing opportunities.
Data Sources: FMR data from HUD (2027). 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.