Location: Steuben County, NY | Metro: Steuben County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
To integrate ZIP 14885 into a Section 8 portfolio strategy, it's essential to analyze its financial metrics and housing market dynamics. This ZIP code, located in Steuben County, NY metro, offers a unique opportunity for landlords and small-portfolio investors.
The primary consideration when evaluating ZIP 14885 as a potential investment is its role as a cash-flow anchor. The Fair Market Rent (FMR) for the area, set at $1,110 for FY 2026, significantly exceeds the current market rent of $675. This substantial spread ensures that properties in this ZIP code can be rented out at rates that are favorable to landlords, particularly those participating in the Section 8 program. The median home value in ZIP 14885 is $182,923, which indicates that property acquisition costs are relatively low compared to other areas, making it easier to achieve positive cash flow.
ZIP 14885 does not present itself as an appreciation play due to the lack of significant price increases in the housing market. The price-cut share and days on market (DOM) are both noted as N/A, suggesting a stable market without rapid growth or decline, thus not providing strong evidence for future appreciation.
While ZIP 14885 could serve as a diversifier in a broader portfolio, given that 8.4% of households are renters and the median income is $75,500, the most compelling argument for its inclusion is as a cash-flow anchor. The higher FMR relative to market rents provides a reliable income stream, while the lower median home value suggests that property acquisition costs are manageable. This combination makes ZIP 14885 an attractive option for investors seeking steady returns through rental income.
Landlords should focus on securing Section 8 tenants in ZIP 14885 to capitalize on the higher FMR. The difference between the FMR and market rent allows for a buffer against potential decreases in rental subsidies or increases in maintenance and operating costs. Additionally, the stability of the local economy, as indicated by the median income, reduces the risk of tenant default.
In conclusion, ZIP 14885 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The $435 spread between the FMR and market rent, along with the reasonable median home value, positions this area as a secure investment for generating consistent rental income.
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.