Section 8 Fair Market Rent (FMR) for ZIP 14080 - 2027

Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA

Investment Score for ZIP 14080

Monthly Rent (2BR)

$1,110

Median Price (2BR)

$280,478

1% Rule

0.4%

Annual Yield

4.75%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$920
1 Bedroom	$940
2 Bedrooms	$1,110
3 Bedrooms	$1,350
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,110	$280,478	0.4%	F
3BR	$1,350	$353,022	0.38%	F
4BR	$1,540	$377,913	0.41%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,444

Median Household Income

$76,786

Housing Units

2,088

Renter Percentage

10.5%

Occupancy Rate

95.2%

Renter Occupied

208

The economics of Section 8 in ZIP code 14080, Holland, NY, in Erie County, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1100 for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, reflecting the local housing market conditions more accurately than a broader county-wide figure.

However, the local market rent for a two-bedroom unit, based on Census ACS data, is lower at $773. This discrepancy is important because it directly impacts the reimbursement a landlord receives when participating in the Section 8 program. Let's break down the components:

Tenant Portion: Tenants typically pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1867 (the maximum for a household of four in ZIP 14080), the tenant would pay $560 per month.
Voucher Payment: The voucher payment covers the difference between the tenant’s contribution and the SAFMR, up to $1100. In this case, the voucher would cover $540 ($1100 - $560).
Utility Allowances: Utility allowances vary but are often included in the total voucher amount. For ZIP 14080, these allowances can add another $200 to $300 per month, depending on the specific utilities covered and the household size.

To calculate the total reimbursement a landlord receives, add the tenant’s portion ($560) to the voucher payment ($540). This sums to $1100, which is the SAFMR for ZIP 14080. However, if the actual market rent is only $773, then there is a surplus for the landlord of $327 ($1100 - $773). This surplus can be used to offset other costs associated with renting out the property, such as maintenance and property management fees.

In summary, for a two-bedroom apartment in ZIP 14080, a landlord will receive a total of $1100 per month from the Section 8 program, which includes both the tenant’s contribution and the voucher payment. Given the local market rent of $773, this results in a surplus of $327 per month for the landlord. This makes Section 8 participation financially beneficial for landlords in this ZIP code, despite the lower market rent compared to the SAFMR.

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.