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Erie County/Buffalo/14206

14206

ZIPSAFMR
Erie County, NY
Zillow

ZIP Investment Score

161High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,120
1 BR$1,040$1,070
2 BR$1,230$1,350
3 BR$1,500$1,650
4 BR$1,710$1,730
5 BR$1,966Not available
6 BR$2,261Not available
7 BR$2,601Not available
8 BR$2,991Not available

Purchase Price Calculator

Maximum purchase price
$138,693

Cost breakdown

+Likely effective rent$1,350
HUD FMR$1,230
Market rent$1,410
Est. payment standard (110%)Used$1,350
-Principal and interest-$701
Loan amount$110,954
Down payment$27,739
Rate6.50%
Term30 years
-Operating costs-$449
Property taxes-$139
Insurance-$175
Utilities$0
HOA$0
Management-$135
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,839(78.7% ROI)
Projected value
$149,357
Return breakdown
Property appreciation+$10,664
Loan principal paid down+$3,975
Rental cash flow+$7,200
5-year hold
+$37,314(134.5% ROI)
Projected value
$156,918
Return breakdown
Property appreciation+$18,225
Loan principal paid down+$7,089
Rental cash flow+$12,000
10-year hold
+$79,737(287.5% ROI)
Projected value
$177,539
Return breakdown
Property appreciation+$38,846
Loan principal paid down+$16,892
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.84
1 BR
0.96
2 BR
0.87
3 BR
0.86
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 14206 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14206 (Buffalo, NY) is $1,230 a month. That is up 4.2% from $1,180 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, 14206 is tied for the 67th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14206 is 11% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14206
BedroomsFY 2027Change90–110% range
Studio$1,020+5.2%$918–$1,122
1BR$1,040+4.0%$936–$1,144
2BR$1,230+4.2%$1,107–$1,353
3BR$1,500+4.2%$1,350–$1,650
4BR$1,710+4.3%$1,539–$1,881

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14206
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,040$1,230$1,500$1,710
FY 2026$970$1,000$1,180$1,440$1,640
FY 2025$860$900$1,050$1,290$1,450
FY 2024$860$900$1,050$1,290$1,450
FY 2023$800$830$980$1,200$1,350

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14206
14201$1,450+17.9%
14202$1,500+22.0%
14203$1,970+60.2%
14204$1,200−2.4%
14205$1,460+18.7%
14206Current$1,230—
14207$1,340+8.9%
14208$1,300+5.7%
14209$1,450+17.9%
14210$1,310+6.5%
14211$1,400+13.8%
14212$1,280+4.1%

Questions about ZIP 14206 rents

How much will Section 8 pay for a two-bedroom in ZIP 14206?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,230, that basic range is $1,107 to $1,353 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 14206 in?

ZIP 14206 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 14206 for FY 2027?

The two-bedroom FMR rose 4.2%, from $1,180 in FY 2026 to $1,230 in FY 2027. Since FY 2023 it has risen 25.5%.

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