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 | $1,570 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,890 | $215,397 | 0.88% | C |
| 3BR | $2,300 | $409,584 | 0.56% | F |
| 4BR | $2,630 | $556,626 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP 14068, located in Getzville, NY, within the Buffalo-Cheektowaga, NY MSA, serves best as a cash-flow anchor for a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 14068 in fiscal year 2024 is set at $1370, which is below the local market rent of $1475. This $105 difference per month allows landlords to secure steady rental income that is slightly below the market rate but still reliable due to the government-backed Section 8 program.
The median home value in Getzville is $451,913, indicating a stable housing market where property values are unlikely to fluctuate drastically. This stability supports the idea of using ZIP 14068 as an anchor, providing consistent cash flow without the risk associated with volatile markets. Landlords can expect regular payments from tenants who are part of the Section 8 program, thus ensuring a predictable and steady stream of income.
While ZIP 14068 does not present significant opportunities for appreciation, as evidenced by the lack of percentage increase in price-cut share and days on market (DOM), it offers a solid foundation for portfolio diversification. With a 32.3% renter share, there is a notable demand for rental properties in the area. Additionally, the median income of $98,750 suggests that residents have the financial capacity to afford higher rents outside of the subsidized program, further supporting the viability of maintaining a diversified investment portfolio that includes both Section 8 and market-rate rentals.
In summary, ZIP 14068 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The modest spread between the FMR and market rent, coupled with the stable median home value, ensures steady and predictable income. Although appreciation plays are limited, the high renter share and median income levels make it a valuable component for diversifying a real estate investment portfolio.
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.