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 | $1,000 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $319,114 | 0.46% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 investment in ZIP code 14069 are significant and must be carefully considered. Tenant turnover can be a major issue, especially when comparing the non-disclosed market rent to the Fair Market Rent (FMR) of $1120 set for FY 2024. High turnover rates can lead to increased costs associated with finding new tenants, including advertising expenses and the time required to prepare the property for new occupants.
Vacancy exposure is another concern, particularly since the days on market (DOM) figure is not available. This lack of data makes it difficult to predict how quickly a property might fill, potentially leading to extended periods without rental income. Given that the typical home value in the area is $300,595 and the median income is $85,469, there is also a notable risk of deferred maintenance. Landlords should be prepared to invest in maintaining their properties to meet Section 8 standards, which can be costly if not addressed promptly.
However, these risks are offset by the high renter share of 20.5%. A significant portion of the population renting suggests a robust demand for housing, including those who rely on Section 8 vouchers. This high renter density can translate into a steady stream of tenants looking for affordable housing options, reducing the likelihood of prolonged vacancies.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP code 14069 is moderate.
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.