Location: Buffalo-Cheektowaga, NY | Metro: Buffalo-Cheektowaga, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 14302 in fiscal year 2024 is set at $970. However, the market rent for this area appears to be lower, with typical rental prices for studio apartments ranging from $300 to $499 per month, including utilities. This suggests that voucher tenants will likely only cashflow at FMR with premium units, given the disparity between the HUD FMR and the actual market rent.
The median home value for ZIP 14302 is not available, which makes it challenging to derive an exact rent-to-price ratio. Nonetheless, the limited data indicates that the housing market in this area is predominantly rental-focused, with fewer single-family homes listed for rent compared to apartments and townhouses.
With the absence of specific median days on market (DOM) and price cut percentage data, it is difficult to assess the precise rent-versus-buy dynamics. However, the low median home value and high proportion of rental properties suggest that the rental market is relatively stable and may offer consistent cash flow opportunities for investors.
The strongest investor angle in ZIP 14302 is likely stability, due to the established rental market and the potential for steady cash flow from tenants who are able to pay the lower market rents. While appreciation may be limited, the predictability of rental income can provide a reliable investment opportunity.
Data Sources: FMR data from HUD (2027). 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.