Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 14027 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $1190 for fiscal year 2024. This rate is specific to this ZIP code, meaning it does not vary across different areas within the county.
To understand what a landlord receives from a voucher, consider the components of the payment. The voucher holder, typically the tenant, must contribute 30% of their adjusted income toward the rent. If we assume an average adjusted income of $1800 per month, the tenant's contribution would be $540. The remainder of the rent, up to the SAFMR, is covered by the housing authority. In this case, that would be $650 ($1190 - $540).
In addition to the base rent, there are utility allowances. These allowances vary but can be estimated around $300 per month for a two-bedroom unit. Thus, the total reimbursement a landlord might receive from a voucher is approximately $950 ($650 base rent + $300 utilities).
This calculation shows that the typical reimbursement gap for a two-bedroom apartment in ZIP 14027 is $240 per month. This means landlords will receive $240 less than the SAFMR of $1190. It is important to note that if the local market rent is higher than the SAFMR, landlords may face a larger gap between the voucher reimbursement and their actual rental costs.
To summarize, the SAFMR for a two-bedroom apartment in ZIP 14027 is $1190. Given a typical tenant contribution of $540 and a utility allowance of $300, the total reimbursement comes to $950. Therefore, landlords should expect a reimbursement gap of $240 when renting to tenants with Section 8 vouchers.
Data Sources: FMR data from HUD (2027). 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.