Location: Buffalo-Cheektowaga, 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 | $1,010 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,480 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $331,818 | 0.45% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 14055, as of fiscal year 2024, presents a unique set of dynamics that can be inferred from the snapshot of available data. The Fair Market Rent (FMR) stands at $970, indicating the rental price point deemed fair by HUD for a standard unit in the area. However, the lack of specific market rent data suggests that the local rental market might not be fully captured or reported, which could imply either a nascent market or one that is less transparent.
The median home value of $307,462 offers insight into the overall affordability and desirability of homeownership in 14055. This figure is crucial for understanding the economic makeup of the community, reflecting the balance between income levels and property values.
With a renter share of 11.2%, it's evident that the majority of the population in 14055 opts for homeownership. This low percentage of renters signals a strong inclination towards owning property rather than renting, which can suggest stable long-term housing pressure. When fewer residents choose to rent, it typically means they have the financial capability to purchase homes, leading to a relatively steady demand for both rentals and sales.
The absence of data on price-cut share and days on market (DOM) complicates a direct assessment of whether supply outpaces demand or vice versa. Nonetheless, the high median home value alongside the low renter share suggests a market that favors sellers. Homeowners in this area likely find themselves in a position where their properties hold significant value, potentially leading to less need for price reductions or extended marketing periods.
In summary, ZIP 14055 appears to be a market characterized by a preference for homeownership and stable housing demand, with rental prices reflecting a fair market value. The dynamics indicate a robust environment for property ownership, though the exact relationship between supply and demand remains unclear without additional metrics.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.