Section 8 Fair Market Rent (FMR) for ZIP 14127 - 2027

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

Investment Score for ZIP 14127

Monthly Rent (2BR)

$1,610

Median Price (2BR)

$280,867

1% Rule

0.57%

Annual Yield

6.88%

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	$1,330
1 Bedroom	$1,360
2 Bedrooms	$1,610
3 Bedrooms	$1,960
4 Bedrooms	$2,240
5 Bedrooms	$2,598
6 Bedrooms	$2,910
7 Bedrooms	$3,143
8 Bedrooms	$3,300

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	$1,610	$280,867	0.57%	F
3BR	$1,960	$364,614	0.54%	F
4BR	$2,240	$583,962	0.38%	F
5BR	$2,598	$672,586	0.39%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

31,543

Median Household Income

$109,386

Housing Units

13,800

Renter Percentage

26.0%

Occupancy Rate

97.3%

Renter Occupied

3,499

Orchard Park, NY, located in ZIP code 14127, is a suburban community known for its family-friendly environment and proximity to Buffalo. This area presents a stable market for real estate investors, particularly those interested in Section 8 housing and general rental properties.

The Fair Market Rent (FMR) for ZIP 14127 for fiscal year 2024 is set at $1,340. This figure represents the maximum amount that a Section 8 tenant can pay towards their rent, making it a critical benchmark for landlords considering participation in the program.
The actual market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $1,758. This suggests that Orchard Park's rental market is robust and offers opportunities for landlords to earn above the FMR threshold.
The median home value in Orchard Park is $417,712. This reflects a solid middle-class neighborhood where homeownership is valued and maintained.
Renters make up 26.0% of the housing market in this ZIP code, indicating a significant but not overwhelming presence of renters. This percentage provides a balanced outlook for both rental and sale markets.
The median income in the area is $109,386, which is higher than the national average, suggesting a strong economic base and potential for higher rent payments or property values.

Given these data points, Orchard Park presents a favorable investment climate for landlords and small-portfolio investors. The gap between the FMR and ZORI indicates that there is room for profit in both Section 8 and private rental sectors. The high median income supports the potential for premium rents, while the median home value and renter share suggest a balanced market with opportunities in both rental and sales. However, the lack of data on days on market (DOM) means that the speed of property turnover is uncertain, which could be a risk factor for quick resale strategies.

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.