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Chemung County/Chemung/14825

14825

ZIPSAFMR
Chemung County, NY
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$860$860
1 BR$890$890
2 BR$1,160$1,160
3 BR$1,450$1,450
4 BR$1,550$1,550
5 BR$1,782Not available
6 BR$2,050Not available
7 BR$2,357Not available
8 BR$2,711Not available

Purchase Price Calculator

Maximum purchase price
$110,459

Cost breakdown

+Likely effective rent$1,160
HUD FMRUsed$1,160
Market rentN/A
Est. payment standardN/A
-Principal and interest-$559
Loan amount$88,367
Down payment$22,092
Rate6.50%
Term30 years
-Operating costs-$401
Property taxes-$110
Insurance-$175
Utilities$0
HOA$0
Management-$116
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,859(85.4% ROI)
Projected value
$118,952
Return breakdown
Property appreciation+$8,493
Loan principal paid down+$3,166
Rental cash flow+$7,200
5-year hold
+$32,161(145.6% ROI)
Projected value
$124,974
Return breakdown
Property appreciation+$14,515
Loan principal paid down+$5,646
Rental cash flow+$12,000
10-year hold
+$68,391(309.6% ROI)
Projected value
$141,397
Return breakdown
Property appreciation+$30,938
Loan principal paid down+$13,453
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 14825 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14825 (Chemung, NY) is $1,160 a month. That is unchanged from FY 2026. Chemung is in the Elmira, NY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,348. Among 24 ZIP codes in Chemung County, 14825 is tied for the 22nd-highest two-bedroom rent (county range $1,160–$1,760). The median county two-bedroom FMR in New York is $1,385, so ZIP 14825 is 16% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14825
BedroomsFY 2027Change90–110% range
Studio$860−1.1%$774–$946
1BR$8900.0%$801–$979
2BR$1,1600.0%$1,044–$1,276
3BR$1,450−1.4%$1,305–$1,595
4BR$1,5500.0%$1,395–$1,705

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14825
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$860$890$1,160$1,450$1,550
FY 2026$870$890$1,160$1,470$1,550
FY 2025$820$830$1,090$1,410$1,530
FY 2024$730$730$940$1,200$1,340
FY 2023$730$730$940$1,210$1,340

Two-bedroom rent in nearby Chemung County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14825
14805$1,420+22.4%
14812$1,200+3.4%
14814$1,310+12.9%
14816$1,500+29.3%
14824$1,760+51.7%
14825Current$1,160—
14830$1,220+5.2%
14838$1,510+30.2%
14845$1,500+29.3%
14859$1,540+32.8%
14861$1,420+22.4%
14864$1,380+19.0%

Questions about ZIP 14825 rents

How much will Section 8 pay for a two-bedroom in ZIP 14825?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,348, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,213 to $1,483 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 14825 in?

ZIP 14825 is in the Elmira, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,348.

How much did fair market rent change in ZIP 14825 for FY 2027?

The two-bedroom FMR was unchanged at $1,160 in FY 2027. Since FY 2023 it has risen 23.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentChemung, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources