Section 8 Fair Market Rent (FMR) for ZIP 14887 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 14887, located in Schuyler County, New York, are straightforward once you understand the components involved. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,150. This figure represents the maximum amount that a Section 8 housing voucher can cover for rent in this specific area.

A landlord's income from a Section 8 tenant consists of the tenant's portion of the rent plus the reimbursement from the housing authority. The tenant is typically responsible for paying 30% of their adjusted monthly income towards rent. This amount does not include any utility allowances which are additional payments made directly to the landlord.

To illustrate, if a tenant's adjusted monthly income is $1,000, they would pay $300 towards rent. The housing authority would then reimburse the landlord the difference between the tenant's payment and the SAFMR, up to $1,150. In this example, the landlord would receive $850 from the housing authority, making the total rental income $1,150. Utility allowances are separate and can add up to an additional $200 per month depending on the household size and the region's average utility costs.

Note that the SAFMR applies specifically to this ZIP code, meaning it is set based on the rental market conditions here rather than being uniform across the entire county or metro area. This specificity helps ensure that the reimbursement rates reflect the actual rental prices in the local market.

In ZIP 14887, there is no reported local market rent data available, which makes it difficult to provide a precise comparison. However, given that the SAFMR is $1,150, landlords should expect this to be the benchmark for what the housing authority will pay. If local market rents are higher, landlords may experience a reimbursement gap where the total income from a Section 8 tenant is less than the market rate. Conversely, if market rents are lower, landlords could see a surplus where the total income exceeds the typical market rate.

To conclude, the typical reimbursement for a two-bedroom apartment in ZIP 14887 is $1,150, with potential additional utility allowances. Without specific local market rent data, the exact gap or surplus cannot be determined, but landlords should use this figure as a guide when considering participation in the Section 8 program.

Data Sources: FMR data from HUD (2027).

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.