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Niagara County/Niagara Falls/14304

14304

ZIPSAFMR
Niagara County, NY
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,050$1,160
1 BR$1,070$1,180
2 BR$1,270$1,400
3 BR$1,550$1,710
4 BR$1,760$1,940
5 BR$2,024Not available
6 BR$2,328Not available
7 BR$2,677Not available
8 BR$3,078Not available

Purchase Price Calculator

Maximum purchase price
$146,123

Cost breakdown

+Likely effective rent$1,400
HUD FMR$1,270
Market rent$1,660
Est. payment standard (110%)Used$1,400
-Principal and interest-$739
Loan amount$116,898
Down payment$29,225
Rate6.50%
Term30 years
-Operating costs-$461
Property taxes-$146
Insurance-$175
Utilities$0
HOA$0
Management-$140
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,624(77.4% ROI)
Projected value
$157,358
Return breakdown
Property appreciation+$11,235
Loan principal paid down+$4,188
Rental cash flow+$7,200
5-year hold
+$38,670(132.3% ROI)
Projected value
$165,325
Return breakdown
Property appreciation+$19,202
Loan principal paid down+$7,469
Rental cash flow+$12,000
10-year hold
+$82,723(283.1% ROI)
Projected value
$187,050
Return breakdown
Property appreciation+$40,927
Loan principal paid down+$17,796
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.85
1 BR
0.86
2 BR
0.77
3 BR
0.82
4 BR
0.78
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 14304 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 14304 (Niagara Falls, NY) is $1,270 a month. That is up 7.6% from $1,180 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, 14304 has the 10th-highest two-bedroom rent (county range $1,010–$2,130). The median county two-bedroom FMR in New York is $1,385, so ZIP 14304 is 8% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 14304
BedroomsFY 2027Change90–110% range
Studio$1,050+8.2%$945–$1,155
1BR$1,070+7.0%$963–$1,177
2BR$1,270+7.6%$1,143–$1,397
3BR$1,550+7.6%$1,395–$1,705
4BR$1,760+7.3%$1,584–$1,936

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 14304
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,050$1,070$1,270$1,550$1,760
FY 2026$970$1,000$1,180$1,440$1,640
FY 2025$860$900$1,050$1,290$1,450
FY 2024$830$870$1,020$1,250$1,410
FY 2023$770$810$950$1,160$1,310

Two-bedroom rent in nearby Niagara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 14304
14120$1,340+5.5%
14126$1,240−2.4%
14131$1,180−7.1%
14132$1,280+0.8%
14144$1,240−2.4%
14172$1,360+7.1%
14174$1,520+19.7%
14301$1,080−15.0%
14302$1,080−15.0%
14303$1,170−7.9%
14304Current$1,270—
14305$1,330+4.7%

Questions about ZIP 14304 rents

How much will Section 8 pay for a two-bedroom in ZIP 14304?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,270, that basic range is $1,143 to $1,397 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 14304 in?

ZIP 14304 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 14304 for FY 2027?

The two-bedroom FMR rose 7.6%, from $1,180 in FY 2026 to $1,270 in FY 2027. Since FY 2023 it has risen 33.7%.

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