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 | $1,440 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,750 | $268,453 | 0.65% | D |
| 3BR | $2,140 | $343,662 | 0.62% | D |
| 4BR | $2,430 | $462,694 | 0.53% | F |
| 5BR | $2,819 | $509,722 | 0.55% | F |
U.S. Census Bureau data (2024)
The market in ZIP 14085, Lake View, NY, presents a unique snapshot of housing dynamics. With a Fair Market Rent (FMR) set at $1480 for fiscal year 2024, it's clear that rental pricing is regulated to ensure affordability. However, the absence of specific market rent data suggests a less competitive rental environment, possibly indicating a lack of robust data collection or a smaller rental market segment.
The median home value stands at $362,328, which provides insight into the overall property valuation in the area. This figure is indicative of a stable housing market, but without comparative data over time, it's challenging to determine whether values are increasing or decreasing. The low renter share of 1.8% is noteworthy, as it implies that the vast majority of residents are homeowners. This statistic points towards a community that is primarily owner-occupied, which can mitigate short-term fluctuations in housing costs due to rental market pressures.
The scarcity of additional metrics such as the percentage of price-cut shares and days on market (DOM) makes it difficult to ascertain if supply currently outpaces demand or vice versa. However, the combination of a defined FMR and a relatively high median home value suggests a balanced market with some underlying tension between affordability and desirability. The low renter share could indicate that the area is attractive to buyers who are looking for stable, long-term housing solutions, rather than short-term rental opportunities.
In summary, ZIP 14085 exhibits characteristics of a market in transition, where homeownership is the dominant form of residence. The regulated rental market coexists with a stable home value, creating a scenario where long-term housing pressure is likely minimal. Landlords and small-portfolio investors should consider these factors when evaluating investment opportunities in this ZIP code.
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.