Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
The Fair Market Rent (FMR) for ZIP 14273 in Fiscal Year 2024 is set at $1190 for a one-bedroom unit. This figure indicates the potential rental income landlords can expect from properties in this area under the Section 8 program. However, the lack of specific market rental prices and home value data makes it challenging to assess the overall yield accurately. Given the FMR, it suggests a modest rental yield compared to market rates, which could be higher but are currently unspecified.
Regarding stability, there is insufficient data to provide a precise assessment of the percentage of renters, days on the market (DOM), and average income levels in ZIP 14273. The absence of these key metrics complicates the evaluation of long-term cash flow reliability and property turnover speed. However, the presence of a Section 8 program implies a stable tenant base with government-backed rental assistance, which can mitigate some risks associated with rent collection.
Without concrete market rental prices and home values, it’s difficult to classify ZIP 14273 definitively as either a high-yield/low-stability flip-style market or a steady-cashflow zone. The available FMR suggests a moderate yield, while the stability remains unclear due to the limited data. Landlords and small-portfolio investors should consider the potential for stable rental income through the Section 8 program but should also seek additional local market insights to better understand the overall investment landscape in ZIP 14273.
Data Sources: FMR data from HUD (2027).
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.