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 | $1,060 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $261,661 | 0.49% | F |
| 3BR | $1,560 | $327,744 | 0.48% | F |
| 4BR | $1,780 | $380,886 | 0.47% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 14132, located in Sanborn, NY within the Buffalo-Cheektowaga, NY MSA, does not work favorably for landlords. The Fair Market Rent (FMR) for the area set at $1100 for fiscal year 2024 is higher than the market rent reported by the Census ACS, which stands at $946. This indicates that landlords might struggle to charge the FMR without losing potential tenants to lower-priced options.
Acquisition of properties in this ZIP code is relatively affordable, with a median home value of $313,561. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market dynamics are unclear. Without these metrics, it's difficult to assess how quickly properties sell and at what price point.
Tenant demand in ZIP 14132 is modest. With a total population of 6,453, only 13.9% of residents are renters, indicating a smaller pool of potential tenants. This low renter share could make it challenging to find and retain tenants, especially if landlords aim to charge closer to the FMR.
Verdict: ZIP 14132 presents a mixed picture for landlords and small-portfolio investors. While the median home value is affordable, the discrepancy between FMR and market rent, along with the limited tenant base, suggests that achieving profitability through rental income will be difficult. Landlords should carefully consider their pricing strategies and be prepared for potentially longer vacancy periods.
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.