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 | $1,260 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $215,147 | 0.71% | D |
| 3BR | $1,850 | $257,171 | 0.72% | D |
| 4BR | $2,110 | $348,203 | 0.61% | D |
| 5BR | $2,448 | $418,365 | 0.59% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14214 in Buffalo, NY, for fiscal year 2024 is set at $1210. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the rent you will receive; it's the payment standard used by the Housing Choice Voucher program to determine the maximum allowable rent.
In comparison, the average market rent in ZIP 14214 is $1,602, according to the Zillow Observed Rental Index (ZORI). This means that the FMR is lower than the typical market rent, which could affect your decision to participate in the Section 8 program if you're looking for higher rental income.
However, there is strong demand for rentals in this area. The renter share, which is the percentage of households that rent, stands at 57.7%. This high percentage indicates that many people in the area are looking for affordable housing options, making it likely that your property would be occupied if you decide to join the Section 8 program.
If you're considering purchasing a property in ZIP 14214 to become a Section 8 landlord, the median home value is approximately $281,701. This figure gives you an idea of the typical acquisition cost for a home in this area, helping you to budget accordingly.
Before you make the final decision to accept Section 8 tenants in your property, verify that your rental unit meets all the required quality standards as defined by the Housing Quality Standards (HQS). These standards ensure that the property is safe and habitable, which is essential for receiving approval from the local housing authority.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.