FMR is below market; voucher rent may lag private rents.
0.76
1 BR
1 BR
0.84ratio
FMR$910
Market$1,080
vs market-$170
FMR is below market; voucher rent may lag private rents.
0.84
2 BR
2 BR
0.73ratio
FMR$1,080
Market$1,480
vs market-$400
FMR is below market; voucher rent may lag private rents.
0.73
3 BR
3 BR
0.77ratio
FMR$1,310
Market$1,700
vs market-$390
FMR is below market; voucher rent may lag private rents.
0.77
4 BR
4 BR
0.74ratio
FMR$1,500
Market$2,020
vs market-$520
FMR is below market; voucher rent may lag private rents.
0.74
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
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ZIP 14302 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14302 (Niagara Falls, NY) is $1,080 a month. That is up 0.9% from $1,070 in FY 2026. Niagara Falls 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 27 ZIP codes in Niagara County, 14302 is tied for the 25th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14302 is 22% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 14302
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$880
$890
+1.1%
$801–$979
1BR
$910
$910
0.0%
$819–$1,001
2BR
$1,070
$1,080
+0.9%
$972–$1,188
3BR
$1,310
$1,310
0.0%
$1,179–$1,441
4BR
$1,490
$1,500
+0.7%
$1,350–$1,650
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 14302
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$890
$910
$1,080
$1,310
$1,500
FY 2026
$880
$910
$1,070
$1,310
$1,490
FY 2025
$860
$900
$1,050
$1,290
$1,450
FY 2024
$790
$830
$970
$1,190
$1,340
FY 2023
$720
$760
$890
$1,090
$1,220
Two-bedroom rent in nearby Niagara County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 14302?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,080, that basic range is $972 to $1,188 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 14302 in?
ZIP 14302 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 14302 for FY 2027?
The two-bedroom FMR rose 0.9%, from $1,070 in FY 2026 to $1,080 in FY 2027. Since FY 2023 it has risen 21.3%.
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