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 | $1,180 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $182,164 | 0.78% | D |
| 3BR | $1,730 | $195,813 | 0.88% | C |
| 4BR | $1,970 | $220,323 | 0.89% | C |
| 5BR | $2,285 | $224,199 | 1.02% | B |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 14213, located in Buffalo, NY, and part of Erie County, are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1100 for fiscal year 2024. This SAFMR figure is specific to this ZIP code, meaning it reflects the rental rates deemed fair for this particular area.
In contrast, the local market rent for a two-bedroom unit in ZIP 14213 is higher, running at $1,344 according to the Zillow Observed Rent Index (ZORI). This discrepancy highlights the difference between the government-set SAFMR and the actual market conditions.
A Section 8 voucher program works by subsidizing the rent for eligible low-income tenants. The Housing Choice Voucher program sets the maximum amount that can be paid towards rent based on the SAFMR. For ZIP 14213, the voucher will cover up to $1100 per month for a two-bedroom apartment. However, the tenant is also responsible for paying a portion of the rent, typically around 30% of their income, and utility allowances are factored into the total payment.
To illustrate, if a tenant's portion of the rent is $330 (assuming they pay 30% of a $1100 SAFMR), then the voucher would cover the remaining $770. Utility allowances can vary but are generally modest; let’s assume an additional $100 for utilities. Therefore, the total reimbursement from the voucher program would be $870 ($770 for rent + $100 for utilities).
This calculation leaves a gap between the market rent and the voucher reimbursement. In ZIP 14213, landlords would receive $870 from the voucher program, leaving them short of the market rent of $1,344 by $474 per month. This gap must be addressed by either lowering the market rent to match the SAFMR or finding other ways to balance the financials.
In summary, landlords in ZIP 14213 participating in the Section 8 program should expect a reimbursement of $1100 for rent plus a utility allowance, typically resulting in a reimbursement of around $870. Given the local market rent of $1,344, this creates a $474 shortfall per month. Landlords must decide whether to accept this gap or adjust their rents accordingly.
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.