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 | $1,050 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $303,167 | 0.42% | F |
| 3BR | $1,550 | $396,197 | 0.39% | F |
| 4BR | $1,760 | $461,228 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 14170, located in West Falls, NY, has a population of 2,292 residents. Only 10.5% of these residents are renters, indicating that this area is predominantly a homeowner-dominated zone rather than a renter-heavy one. This low percentage of renters suggests that the demand for rental properties, particularly those accepting Section 8 vouchers, is relatively limited.
The median household income in this ZIP code stands at $116,746, which is significantly higher than the typical market rent of $855. To put this into perspective, the average rent consumes approximately 7.3% of the median household income, calculated as ($855 / $116,746) * 100. This ratio indicates that rent is a minor expense relative to the income levels in the area.
Comparing the market rent of $855 to the Fair Market Rent (FMR) of $1,090 for FY 2024, it's evident that the current market rent is below the FMR. The FMR is set by HUD and represents the maximum amount of rent that a property can charge while still being considered affordable for low-income households. In this case, landlords who accept Section 8 vouchers must ensure their rent does not exceed the $1,090 FMR threshold.
A landlord in this ZIP code should expect tenants who are likely to have stable employment and financial standing due to the high median income. However, given the low percentage of renters, the pool of potential Section 8 tenants will be smaller compared to areas with higher renter populations. Landlords should also be prepared for the possibility of competition among fewer rental units that cater to lower-income individuals.
In summary, ZIP 14170 is not ideal for landlords looking to exclusively cater to Section 8 tenants due to its low renter population. Nevertheless, those willing to participate in the program can expect tenants with a reasonable likelihood of maintaining their rental obligations, albeit within a niche market.
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.