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Erie County/Buffalo/14202

14202

ZIPSAFMR
Erie County, NY
Zillow

ZIP Investment Score

25Below average

095130300
BRFMR
Eff. Rent
0 BR$1,240$1,100
1 BR$1,270$1,400
2 BR$1,500$1,650
3 BR$1,830$1,900
4 BR$2,080$2,270
5 BR$2,392Not available
6 BR$2,751Not available
7 BR$3,163Not available
8 BR$3,638Not available

Purchase Price Calculator

Maximum purchase price
$183,273

Cost breakdown

+Likely effective rent$1,650
HUD FMR$1,500
Market rent$1,770
Est. payment standard (110%)Used$1,650
-Principal and interest-$927
Loan amount$146,618
Down payment$36,655
Rate6.50%
Term30 years
-Operating costs-$523
Property taxes-$183
Insurance-$175
Utilities$0
HOA$0
Management-$165
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,545(72.4% ROI)
Projected value
$197,365
Return breakdown
Property appreciation+$14,092
Loan principal paid down+$5,253
Rental cash flow+$7,200
5-year hold
+$45,451(124.0% ROI)
Projected value
$207,356
Return breakdown
Property appreciation+$24,084
Loan principal paid down+$9,367
Rental cash flow+$12,000
10-year hold
+$97,653(266.4% ROI)
Projected value
$234,605
Return breakdown
Property appreciation+$51,332
Loan principal paid down+$22,321
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.13
1 BR
0.86
2 BR
0.85
3 BR
0.95
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 14202 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14202 (Buffalo, NY) is $1,500 a month. That is up 9.5% from $1,370 in FY 2026. Buffalo 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, 14202 has the 23rd-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14202 is 8% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14202
BedroomsFY 2027Change90–110% range
Studio$1,240+9.7%$1,116–$1,364
1BR$1,270+9.5%$1,143–$1,397
2BR$1,500+9.5%$1,350–$1,650
3BR$1,830+9.6%$1,647–$2,013
4BR$2,080+8.9%$1,872–$2,288

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14202
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,240$1,270$1,500$1,830$2,080
FY 2026$1,130$1,160$1,370$1,670$1,910
FY 2025$980$1,010$1,190$1,450$1,640
FY 2024$1,000$1,040$1,220$1,490$1,680
FY 2023$890$930$1,100$1,350$1,510

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14202
14201$1,450−3.3%
14202Current$1,500—
14203$1,970+31.3%
14204$1,200−20.0%
14205$1,460−2.7%
14206$1,230−18.0%
14207$1,340−10.7%
14208$1,300−13.3%
14209$1,450−3.3%
14210$1,310−12.7%
14211$1,400−6.7%
14212$1,280−14.7%

Questions about ZIP 14202 rents

How much will Section 8 pay for a two-bedroom in ZIP 14202?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,500, that basic range is $1,350 to $1,650 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 14202 in?

ZIP 14202 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 14202 for FY 2027?

The two-bedroom FMR rose 9.5%, from $1,370 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 36.4%.

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