Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
To integrate ZIP 14102 into a Section 8 portfolio strategy, focus on its potential as an appreciation play despite the lack of specific metrics such as price-cut share and days on market (DOM). The high median home value of $387,190 suggests that this area is likely to see property value increases over time.
The Federal Market Rent (FMR) for ZIP 14102 in fiscal year 2024 is set at $1220. While there is no direct comparison to the market rent due to the absence of relevant data, the FMR serves as a benchmark for rental pricing under Section 8 programs. This can be leveraged to ensure consistent cash flow while waiting for the capital appreciation of your properties.
The median income in ZIP 14102 is $119,327, indicating a relatively affluent neighborhood. High median incomes often correlate with stable property values and low vacancy rates, which are key factors for appreciation plays. Additionally, the 10.2% renter share suggests that most residents prefer homeownership, further supporting the idea of long-term capital growth.
While the data does not provide a clear picture of the short-term rental market dynamics, the overall economic health of the area, as reflected by the median income, supports the strategy of holding properties for appreciation. Landlords and small-portfolio investors should consider the potential for significant equity build-up over time, making ZIP 14102 a valuable addition to their Section 8 portfolios focused on appreciation.
Data Sources: FMR data from HUD (2027). 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.