Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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South Wales, NY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in South Wales, NY is $1,090 a month. That is up 5.8% from $1,030 in FY 2026. South Wales is in the Buffalo-Cheektowaga, NY MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in New York is $1,385, so South Wales is 21% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for South Wales, NY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$850
$900
+5.9%
$810–$990
1BR
$870
$920
+5.7%
$828–$1,012
2BR
$1,030
$1,090
+5.8%
$981–$1,199
3BR
$1,260
$1,330
+5.6%
$1,197–$1,463
4BR
$1,430
$1,510
+5.6%
$1,359–$1,661
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for South Wales, NY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$920
$1,090
$1,330
$1,510
FY 2026
$850
$870
$1,030
$1,260
$1,430
FY 2025
$860
$900
$1,050
$1,290
$1,450
FY 2024
$890
$930
$1,090
$1,330
$1,500
FY 2023
$840
$880
$1,030
$1,260
$1,420
Questions about South Wales, NY rents
How much will Section 8 pay for a two-bedroom in South Wales, NY?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,090, that basic range is $981 to $1,199 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is South Wales, NY in?
South Wales, NY is in the Buffalo-Cheektowaga, NY MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in South Wales, NY for FY 2027?
The two-bedroom FMR rose 5.8%, from $1,030 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 5.8%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set