14261

ZIPSAFMR

Erie County, NY

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,530	$1,310	7.8%
1 BR	$1,560	$1,420	7.1%
2 BR	$1,850	$1,970	7.5%
3 BR	$2,250	$2,260	7.1%
4 BR	$2,570	$2,810	7.7%
5 BR	$2,955	Not available	7.6%
6 BR	$3,399	Not available	7.7%
7 BR	$3,909	Not available	7.7%
8 BR	$4,495	Not available	7.7%

Purchase Price Calculator

Maximum purchase price

$230,825

Cost breakdown

+Likely effective rent$1,970

HUD FMR$1,850

Market rent$2,040

Est. payment standard (107%)Used$1,970

-Principal and interest-$1,167

Loan amount$184,660

Down payment$46,165

Rate6.50%

Term30 years

-Operating costs-$603

Property taxes-$231

Insurance-$175

Utilities$0

HOA$0

Management-$197

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$31,564(68.4% ROI)

Projected value

$248,573

Return breakdown

Property appreciation+$17,748

Loan principal paid down+$6,616

Rental cash flow+$7,200

5-year hold

+$54,130(117.3% ROI)

Projected value

$261,157

Return breakdown

Property appreciation+$30,332

Loan principal paid down+$11,798

Rental cash flow+$12,000

10-year hold

+$116,763(252.9% ROI)

Projected value

$295,475

Return breakdown

Property appreciation+$64,650

Loan principal paid down+$28,112

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.17ratio

FMR$1,530

Market$1,310

vs market+$220

FMR is above market; underwrite to market rent.

1.17

1 BR

1.10ratio

FMR$1,560

Market$1,420

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.10

2 BR

0.91ratio

FMR$1,850

Market$2,040

vs market-$190

FMR is near market; voucher and private rents are aligned.

0.91

3 BR

1.00ratio

FMR$2,250

Market$2,260

vs market-$10

FMR is near market; voucher and private rents are aligned.

1.00

4 BR

0.87ratio

FMR$2,570

Market$2,940

vs market-$370

FMR is below market; voucher rent may lag private rents.

0.87

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 14261 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14261 (Erie County, NY) is $1,850 a month. That is up 6.9% from $1,730 in FY 2026. Erie County 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, 14261 has the 8th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14261 is 34% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14261
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,430	$1,530	+7.0%	$1,377–$1,683
1BR	$1,470	$1,560	+6.1%	$1,404–$1,716
2BR	$1,730	$1,850	+6.9%	$1,665–$2,035
3BR	$2,110	$2,250	+6.6%	$2,025–$2,475
4BR	$2,410	$2,570	+6.6%	$2,313–$2,827

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14261
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,530	$1,560	$1,850	$2,250	$2,570
FY 2026	$1,430	$1,470	$1,730	$2,110	$2,410
FY 2025	$1,230	$1,270	$1,490	$1,830	$2,060
FY 2024	$1,220	$1,270	$1,490	$1,830	$2,060
FY 2023	$1,120	$1,170	$1,370	$1,680	$1,890

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 14261
14226	$1,570	−15.1%
14227	$1,610	−13.0%
14228	$1,800	−2.7%
14231	$1,460	−21.1%
14233	$1,460	−21.1%
14240	$1,460	−21.1%
14260	$1,800	−2.7%
14261Current	$1,850	—
14263	$1,460	−21.1%
14272	$1,460	−21.1%
14273	$1,460	−21.1%
14280	$1,460	−21.1%

Questions about ZIP 14261 rents

How much will Section 8 pay for a two-bedroom in ZIP 14261?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,850, that basic range is $1,665 to $2,035 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 14261 in?

ZIP 14261 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 14261 for FY 2027?

The two-bedroom FMR rose 6.9%, from $1,730 in FY 2026 to $1,850 in FY 2027. Since FY 2023 it has risen 35.0%.

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 rent NY statewide rents What is SAFMR?Data sources