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Erie County/Derby/14047

14047

ZIPSAFMR
Erie County, NY
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$1,080
1 BR$1,110$1,110
2 BR$1,310$1,310
3 BR$1,590$1,590
4 BR$1,820$1,820
5 BR$2,093Not available
6 BR$2,407Not available
7 BR$2,768Not available
8 BR$3,183Not available

Purchase Price Calculator

Maximum purchase price
$132,749

Cost breakdown

+Likely effective rent$1,310
HUD FMRUsed$1,310
Market rentN/A
Est. payment standardN/A
-Principal and interest-$671
Loan amount$106,199
Down payment$26,550
Rate6.50%
Term30 years
-Operating costs-$439
Property taxes-$133
Insurance-$175
Utilities$0
HOA$0
Management-$131
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,212(79.9% ROI)
Projected value
$142,956
Return breakdown
Property appreciation+$10,207
Loan principal paid down+$3,805
Rental cash flow+$7,200
5-year hold
+$36,229(136.5% ROI)
Projected value
$150,193
Return breakdown
Property appreciation+$17,444
Loan principal paid down+$6,785
Rental cash flow+$12,000
10-year hold
+$77,349(291.3% ROI)
Projected value
$169,930
Return breakdown
Property appreciation+$37,181
Loan principal paid down+$16,168
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

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
--
Mortgage rate
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ZIP 14047 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14047 (Derby, NY) is $1,310 a month. That is up 2.3% from $1,280 in FY 2026. Derby 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, 14047 is tied for the 55th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14047 is 5% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14047
BedroomsFY 2027Change90–110% range
Studio$1,080+2.9%$972–$1,188
1BR$1,110+1.8%$999–$1,221
2BR$1,310+2.3%$1,179–$1,441
3BR$1,590+1.9%$1,431–$1,749
4BR$1,820+2.2%$1,638–$2,002

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14047
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,110$1,310$1,590$1,820
FY 2026$1,050$1,090$1,280$1,560$1,780
FY 2025$920$950$1,120$1,370$1,550
FY 2024$940$980$1,150$1,410$1,590
FY 2023$850$890$1,050$1,290$1,440

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14047
14034$1,270−3.1%
14035$1,270−3.1%
14036$1,110−15.3%
14037$1,190−9.2%
14038$1,460+11.5%
14043$1,430+9.2%
14047Current$1,310—
14051$2,130+62.6%
14052$1,370+4.6%
14055$1,220−6.9%
14057$1,260−3.8%
14059$1,710+30.5%

Questions about ZIP 14047 rents

How much will Section 8 pay for a two-bedroom in ZIP 14047?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,310, that basic range is $1,179 to $1,441 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 14047 in?

ZIP 14047 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 14047 for FY 2027?

The two-bedroom FMR rose 2.3%, from $1,280 in FY 2026 to $1,310 in FY 2027. Since FY 2023 it has risen 24.8%.

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

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