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 | $1,080 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $140,791 | 0.93% | C |
| 3BR | $1,590 | $184,128 | 0.86% | C |
| 4BR | $1,820 | $182,497 | 1% | C |
| 5BR | $2,111 | $180,182 | 1.17% | B |
U.S. Census Bureau data (2024)
The ZIP code 14210 in Buffalo, NY, is predominantly a renter-heavy area, with 53.9% of its population of 15,563 being renters. This indicates a significant demand for rental properties, particularly those that accept Section 8 vouchers. The median household income in this ZIP is $54,197, which contrasts sharply with the market rent of $1,317 per month. To put this into perspective, the average rent consumes approximately 29.5% of the median monthly income, calculated by dividing the annual median income by 12 and then dividing the monthly rent by that figure.
The Fair Market Rent (FMR) for ZIP 14210, as set for FY 2024, is $1,040. This means that landlords who accept Section 8 vouchers can expect to receive a payment close to the FMR, which is lower than the current market rent. However, the discrepancy between the FMR and the market rent highlights the potential for landlords to charge slightly above the voucher amount, still attracting tenants while maintaining profitability.
A landlord in ZIP 14210 should anticipate a tenant profile that includes individuals and families who rely on government assistance to afford housing. These tenants will likely be looking for affordable options that match or are near the FMR. Given the high percentage of renters and the relatively low median income compared to market rent, there is a robust demand for Section 8 vouchers in this area. Landlords should be prepared to navigate the requirements and regulations associated with accepting these vouchers, understanding that it opens their properties to a large pool of potential tenants seeking stable and affordable housing solutions.
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.