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 | $137,849 | 0.93% | C |
| 3BR | $1,560 | $180,341 | 0.87% | C |
| 4BR | $1,780 | $149,284 | 1.19% | B |
| 5BR | $2,065 | $131,428 | 1.57% | A+ |
U.S. Census Bureau data (2024)
The classification of ZIP 14212 (Buffalo, NY) on the axes of yield and stability can be determined through a careful analysis of the provided figures. The Federal Market Rent (FMR) for ZIP 14212 in fiscal year 2024 is set at $1,030, which is slightly above the market rent of $990. This suggests that landlords participating in the Section 8 program can expect a modest premium on rental income.
However, the median home value in ZIP 14212 is relatively low at $150,099, indicating a potentially lower property appreciation rate compared to other areas. Given these figures, the yield in this market is moderate, not high enough to classify it as a "flip-style" market where quick profits are the primary goal.
In terms of stability, the area shows a significant percentage of renters at 47.2%, which is a positive indicator for consistent cash flow. The median household income of $44,020 provides insight into the economic profile of residents, suggesting that while the income level is not particularly high, it is sufficient to support the current rental rates and ensure some level of financial stability for landlords.
The lack of data on days on market (DOM) makes it challenging to assess the liquidity of the housing market, but the combination of a slight premium on Section 8 rents and a substantial portion of renters indicates that ZIP 14212 is more likely a steady-cashflow zone rather than a high-risk, high-reward market. Landlords and small-portfolio investors should expect a reliable, if not exceptionally high, return on their investments.
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.