Location: Cattaraugus County, 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 | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $213,151 | 0.69% | D |
U.S. Census Bureau data (2024)
12.3% of the residents in ZIP code 14129 are renters, indicating a modest demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,060, which is slightly above the market rent of $1,034 as reported by the Census ACS. This suggests that landlords can potentially charge a premium over the average market rate if they offer high-quality units. The median home value in the area is $187,831, reflecting a stable housing market where property values have remained consistent. Landlords should note that the median income in ZIP 14129 is $68,542, which means tenants may be more likely to qualify for assistance programs such as Section 8. Given the data on days on market (DOM) is not available, it's difficult to assess how quickly properties are typically rented out in this area. Similarly, the lack of information on the percentage of price-cut shares means there's no clear indication of how often landlords need to reduce their asking prices to attract tenants. However, considering the FMR is only marginally higher than the market rent, it's advisable for landlords to keep their rents competitive to ensure occupancy rates remain high. In conclusion, while the demand for rentals is moderate, the potential for slightly higher rents due to the FMR, combined with a stable median home value, makes ZIP 14129 a viable option for landlords participating in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.