Location: Steuben County, NY | Metro: Steuben County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 14877 is profiled as a modest-sized area with a population of 658 individuals. Among these residents, 19.6% are renters, indicating that it is not predominantly a renter-heavy community but rather has a mix of homeowners and renters. This percentage suggests that there is some demand for rental properties, including those supported by Section 8 vouchers.
The median household income in this ZIP is $57,750, which provides a baseline for assessing affordability. The typical market rent of $733 represents approximately 12.7% of the median household income, suggesting that rent is relatively affordable for most residents. However, comparing this to the Fair Market Rent (FMR) of $1,030 for FY 2026, which is set for the metro area, it's evident that the actual market rent is below the FMR, potentially making the area attractive for tenants seeking affordable housing options.
In this context, landlords can expect a tenant profile that includes individuals who are likely to benefit from Section 8 vouchers. These tenants will typically have a lower income level, making the $733 rent more manageable compared to the broader market rates. Landlords should prepare for tenants who may be receiving government assistance to cover their housing costs, aligning with the local economic conditions.
To summarize, while ZIP 14877 isn't heavily dominated by renters, it does present opportunities for landlords with properties priced at or slightly above the market rent of $733. Given the income levels and the availability of Section 8 vouchers, landlords can anticipate tenants who are financially reliant on such assistance programs to secure housing within their budget.
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.