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Erie County/Clarence/14031

14031

ZIPSAFMR
Erie County, NY
Zillow

ZIP Investment Score

51Below average

095130300
BRFMR
Eff. Rent
0 BR$1,070$1,180
1 BR$1,090$1,200
2 BR$1,290$1,420
3 BR$1,570$1,730
4 BR$1,790$1,970
5 BR$2,059Not available
6 BR$2,367Not available
7 BR$2,722Not available
8 BR$3,131Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$2,210
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.58
1 BR
0.64
2 BR
0.58
3 BR
0.50
4 BR
0.52
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 14031 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14031 (Clarence, NY) is $1,290 a month. That is up 5.7% from $1,220 in FY 2026. Clarence is in the Buffalo-Cheektowaga, NY MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 89 ZIP codes in Erie County, 14031 is tied for the 59th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14031 is 7% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14031
BedroomsFY 2027Change90–110% range
Studio$1,070+7.0%$963–$1,177
1BR$1,090+5.8%$981–$1,199
2BR$1,290+5.7%$1,161–$1,419
3BR$1,570+5.4%$1,413–$1,727
4BR$1,790+5.3%$1,611–$1,969

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14031
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,070$1,090$1,290$1,570$1,790
FY 2026$1,000$1,030$1,220$1,490$1,700
FY 2025$910$940$1,100$1,340$1,520
FY 2024$890$930$1,090$1,330$1,500
FY 2023$790$820$970$1,190$1,330

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14031
14025$1,370+6.2%
14026$2,130+65.1%
14027$1,270−1.6%
14030$1,030−20.2%
14031Current$1,290—
14032$2,130+65.1%
14033$1,340+3.9%
14034$1,270−1.6%
14035$1,270−1.6%
14036$1,110−14.0%
14037$1,190−7.8%
14038$1,460+13.2%

Questions about ZIP 14031 rents

How much will Section 8 pay for a two-bedroom in ZIP 14031?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 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 ZIP 14031 in?

ZIP 14031 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 ZIP 14031 for FY 2027?

The two-bedroom FMR rose 5.7%, from $1,220 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 33.0%.

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

County fair market rentClarence, NY fair market rentNY statewide rentsWhat is SAFMR?Data sources