Section 8 Fair Market Rent (FMR) for ZIP 14895 - 2027

Location: Allegany County, NY | Metro: Allegany County, NY

Investment Score for ZIP 14895

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$107,218

1% Rule

0.94%

Annual Yield

11.3%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,250
4 Bedrooms	$1,610
5 Bedrooms	$1,868
6 Bedrooms	$2,092
7 Bedrooms	$2,259
8 Bedrooms	$2,372

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,010	$107,218	0.94%	C
3BR	$1,250	$136,604	0.92%	C
4BR	$1,610	$150,212	1.07%	B
5BR	$1,868	$176,438	1.06%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

9,061

Median Household Income

$63,910

Housing Units

4,475

Renter Percentage

25.2%

Occupancy Rate

84.0%

Renter Occupied

946

ZIP code 14895, located in Wellsville, NY within the Allegany County, NY metro area, presents several notable characteristics when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the actual market rent in ZIP 14895 is lower at $709, indicating that it is more affordable for renters.

The median home value in ZIP 14895 stands at $120,130, which is likely below the average for the entire county. This suggests that the area could be considered a value pocket for real estate investments, especially for those interested in purchasing homes at a lower price point.

The renter share in ZIP 14895 is quite high at 25.2%, which is indicative of a significant portion of the population relying on rental housing. This high renter share combined with below-average home values and lower-than-metro market rents points to a potential sweet spot for Section 8 investors. Landlords can benefit from the higher demand for rentals while still receiving federal subsidies to cover the difference between market rent and what low-income tenants can afford.

To further contextualize the position of ZIP 14895 within its metro area, consider the following:

Affordability: The lower market rent compared to the FMR means that properties in this ZIP code are more affordable for low-income households, making them ideal candidates for Section 8 vouchers.
Rental Demand: The substantial renter share suggests a robust demand for rental units, which can be beneficial for landlords who wish to maintain occupancy rates.
Investment Value: With median home values significantly below the average, this ZIP code offers an opportunity for investors to acquire property at a lower cost, potentially leading to higher returns on investment once rental income is factored in.

In summary, ZIP 14895 appears to be a value pocket within the Allegany County, NY metro area. Its combination of lower-than-average home values, high renter share, and below-metro market rents makes it particularly attractive for Section 8 real estate investments. Landlords and small-portfolio investors should find this ZIP code advantageous due to its affordability and strong rental market dynamics.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.