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 | $1,160 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $111,822 | 1.25% | A |
| 3BR | $1,700 | $122,586 | 1.39% | A |
| 4BR | $1,950 | $125,089 | 1.56% | A+ |
| 5BR | $2,262 | $132,966 | 1.7% | A+ |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14211 in Buffalo, NY, for fiscal year 2024 is set at $1090. This figure represents the maximum amount that a landlord can receive from the federal government under the Section 8 program for a unit in this area. It's important to note that this is not the actual rent you will charge your tenants; it's the reimbursement limit from the government.
In comparison, the local median asking rent for a similar property is $1,213, which is known as the Zillow Rent Index (ZORI). This indicates that the market rent in ZIP 14211 is slightly higher than the FMR. However, since Section 8 participants pay a portion of their income towards rent, typically around 35%, landlords should ensure that the FMR covers their costs adequately.
The 54.8% renter share in Buffalo suggests a strong demand for rental properties, meaning that there is a significant portion of the population looking for places to rent. This high percentage supports the idea that there will be a steady pool of potential tenants interested in Section 8 housing.
When acquiring a property in this area, consider the average home value of $113,123. This figure gives you an idea of the typical cost to purchase a home in ZIP 14211, which can help you evaluate whether the investment aligns with your financial goals and the expected returns from Section 8 participation.
Before proceeding with your first Section 8 rental, verify that your property meets all the required maintenance and safety standards. The government conducts inspections to ensure that the homes they subsidize are in good condition, so failing to meet these criteria could delay your participation or result in penalties.
To summarize, the FMR of $1090 sets a cap on government payments, while the local median rent of $1,213 reflects market conditions. With a 54.8% renter share, there is ample demand for rentals, and the average home value of $113,123 provides a benchmark for acquisition costs. Ensure your property is up to code to avoid any issues.
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.