Location: Steuben County, NY | Metro: Steuben 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 | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $152,823 | 0.66% | D |
| 3BR | $1,350 | $177,275 | 0.76% | D |
| 4BR | $1,700 | $165,922 | 1.02% | B |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14879, Savona, NY, set at $1,050 for metro fiscal year 2026, represents the maximum amount the government will pay landlords under the Section 8 program. This is not the total rent you can charge your tenants; it's the reimbursement limit from the housing authority.
In comparison, the average rent in Savona, NY, as reported by the Census Bureau's American Community Survey (ACS), is $849. This indicates that the FMR is higher than the typical market rate, potentially providing a financial buffer for landlords participating in Section 8.
The 16.2% share of renters in the area suggests there is a moderate demand for rental properties. Given this percentage, it's reasonable to expect a portion of these renters to be interested in Section 8 housing, though not all will qualify.
The median home value in Savona, NY, stands at $155,604, which gives an idea of the potential acquisition cost for a property. For landlords and small-portfolio investors, this figure can help determine if the investment aligns with your budget and expected returns.
Before committing to a Section 8 rental, ensure that the property meets all the required standards set by the housing authority. These standards cover safety, health, and structural integrity, and failing to meet them could result in penalties or loss of participation in the 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.