Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
ZIP code 14010, located within the Buffalo-Cheektowaga, NY MSA, has a Fair Market Rent (FMR) of $1190 for fiscal year 2024. This figure provides insight into the rental housing market dynamics within the area, particularly relevant for landlords and small-portfolio investors involved with Section 8 properties.
To contextualize 14010's FMR, it's essential to understand the broader landscape of the Buffalo-Cheektowaga, NY MSA. While specific market rent and home value data for the entire MSA are not available here, we can infer that ZIP 14010's FMR of $1190 likely places it in the lower to mid-tier range of rental prices within the metro. The lack of market rent and home value data suggests that these metrics might be either similar to the FMR or somewhat higher, but without precise figures, definitive comparisons cannot be made.
The absence of data on the percentage of renters in ZIP 14010 means we cannot directly assess whether this area has a higher concentration of potential Section 8 tenants compared to other parts of the metro. However, given the FMR, it is reasonable to conclude that 14010 could be considered a value pocket within the Buffalo-Cheektowaga, NY MSA. Value pockets typically offer lower costs of living and rental rates, which align with the FMR of $1190.
Without a defined renter share, it's challenging to pinpoint 14010 as a premium sub-market where a high proportion of renters might indicate a sweet spot for Section 8 investments. The lack of this information prevents us from making a strong case for such an inference. For landlords and small-portfolio investors, focusing on areas with known high renter shares can provide a clearer indication of demand for affordable housing.
In summary, based on the provided data, ZIP 14010 appears to be a value pocket within the Buffalo-Cheektowaga, NY MSA, offering relatively lower rental rates as per the FMR. However, to fully evaluate its attractiveness for Section 8 investments, additional data on market rents, home values, and renter shares would be necessary.
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.