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 |
|---|---|---|---|---|
| 3BR | $1,350 | $191,942 | 0.7% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14898, set at $970 for the metro area fiscal year 2026, is a critical figure for landlords and small-portfolio investors considering entering the Section 8 program. This FMR represents the maximum amount that the government will pay towards a tenant's rent under the Section 8 Housing Choice Voucher program. It is not the rent you will charge your tenants, but rather the ceiling on what the voucher can cover.
To put this into perspective, the average rent in ZIP 14898, according to recent Census American Community Survey (ACS) data, is $817. This means that while the FMR is higher than the average local rent, it does not guarantee that you can charge $970. Your actual rent must be reasonable and comparable to other similar units in the area. The FMR serves as a benchmark to ensure that rents do not exceed a fair market rate.
The 21.2% of households that are renters in ZIP 14898 indicates a steady demand for rental properties. Given this statistic, there is a good chance that your property will attract Section 8 tenants who need housing assistance. However, the demand is not overwhelming, so it is important to ensure that your property meets the necessary standards and is competitively priced to attract tenants.
If you are looking to acquire a new property in this area for your Section 8 portfolio, the median home value of $181,482 provides a baseline for potential investment costs. This figure can help you estimate the financial commitment required to purchase a property suitable for Section 8 tenants. Keep in mind that the acquisition cost is just one part of the equation; maintenance, insurance, and other expenses also factor into the overall profitability of your investment.
Before proceeding with your first Section 8 rental in ZIP 14898, it is crucial to verify that your property complies with the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary. A thorough inspection and any necessary repairs should be completed before applying for tenants through the Section 8 program. This step is non-negotiable and will save you time and money in the long run.
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.