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 | $980 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $244,592 | 0.48% | F |
| 3BR | $1,440 | $302,383 | 0.48% | F |
| 4BR | $1,640 | $343,923 | 0.48% | F |
U.S. Census Bureau data (2024)
Ransomville, NY, located in ZIP code 14131, is a small suburban neighborhood with a total population of 5,252 residents. Only 12.3% of these residents are renters, indicating a predominantly owner-occupied community. The median household income in this area stands at $85,909, reflecting a relatively affluent demographic. The median home value is notably high at $285,547, suggesting that homeownership is both desirable and financially feasible for many local residents.
However, the rent economics paint a different picture. According to the Census American Community Survey (ACS), the market rent for properties in Ransomville is approximately $885 per month. In contrast, the Fair Market Rent (FMR) for ZIP code 14131, set for fiscal year 2024, is $1,300. This significant gap between the actual market rent and the FMR indicates that there is a strong potential for rental income through government-subsidized housing programs such as Section 8.
The disparity between the median home value and the low market rent suggests that this area might be less attractive to hands-off voucher operators who seek properties with higher intrinsic values. Instead, it could be more suitable for hands-on value-add buyers who are willing to invest time and resources into improving properties to capture the higher rental rates supported by the FMR. These investors can benefit from the current undervaluation of rental properties while also providing affordable housing options to lower-income families in the area.
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.