Location: Wyoming County, NY | Metro: Buffalo-Cheektowaga, NY MSA
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 | $990 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $340,088 | 0.44% | F |
| 4BR | $1,750 | $330,014 | 0.53% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 14037, as of the fiscal year 2024, reveals a snapshot that suggests a dynamic equilibrium between supply and demand, though it leans slightly towards demand outpacing supply. The Fair Market Rent (FMR) for the area is set at $1070, which indicates the rental market's value as perceived by federal standards for housing assistance programs. While the exact market rent is not available, the fact that there is a defined FMR without a corresponding market rent figure could imply that local rents are close to or slightly above the FMR, reflecting a competitive rental environment.
The median home value of $293,956 in this ZIP code provides insight into the overall housing market. This figure, combined with the lack of data on price-cut shares and days on market (DOM), suggests that homes in this area are generally selling at or near their asking prices, indicating a robust sales market where homes are not sitting idle for extended periods. However, the absence of these metrics makes it challenging to quantify the exact level of competition in the sales market.
A key indicator of long-term housing pressure in 14037 is the 11.1% renter share. This relatively low percentage implies that the majority of households in the area own their homes, which can be interpreted as a stable community with fewer transient residents. Despite this, the presence of renters, even at a lower rate, signals ongoing demand for rental properties. This could indicate that new residents or those unable to afford homeownership are seeking rental options, creating a steady but not overwhelming need for rental units.
In summary, ZIP 14037 presents a market where demand for both rentals and homeownership appears to be strong enough to support current pricing levels. The slight lean towards demand outpacing supply, as suggested by the FMR and median home values, indicates a positive trajectory for landlords and small-portfolio investors. The dynamics of the market suggest a balance, with homeownership being the dominant form of residence, yet with a consistent flow of renters supporting the overall housing ecosystem.
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.