Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
1030 is the Fair Market Rent (FMR) for ZIP 14107 in fiscal year 2024, setting a benchmark for rental properties in this area. N/A indicates that there is insufficient data to determine the market rent, suggesting a lack of recent comparable listings which could affect pricing strategies. The absence of a median home value means we cannot compare the typical property price against the FMR, but it does highlight a need for further investigation into local housing trends. With a N/A% renter share, landlords must be cautious about the demand for rental units, as it's unclear what portion of the population is likely to seek rentals. The N/A median income figure leaves us without a key indicator for assessing the financial capability of potential tenants, although the FMR is designed to accommodate various income levels. A N/A-day DOM (Days on Market) suggests that rental properties are either quickly leased or there is not enough data to provide a meaningful average, impacting how landlords should set their expectations for lease durations. Lastly, a N/A% price-cut share implies that landlords might not frequently have to reduce their asking prices to attract tenants, indicating a stable rental market. Based on these figures, the verdict for Section 8 participation in ZIP 14107 is positive, given the clear FMR guidance and the potential for steady tenant interest without significant price adjustments.
Data Sources: FMR data from HUD (2027).
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.