Location: Rochester, NY | Metro: Rochester, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 13154 are governed by the SAFMR (Small Area Fair Market Rent) for a two-bedroom unit, which is set at $1140 for the fiscal year 2024. This SAFMR is specific to this ZIP code, reflecting the localized cost of housing. While the local market rent for a two-bedroom unit is currently unavailable, it's important to understand how the voucher system operates within this framework.
A Section 8 voucher does not cover the entire rent amount. Instead, it reimburses the landlord for the difference between the tenant's contribution and the SAFMR. The tenant is typically required to pay 30% of their adjusted income towards rent. For instance, if a tenant's adjusted monthly income is $1000, they would contribute $300 towards the rent. The remaining balance up to the SAFMR of $1140 is then covered by the government, making the total reimbursement to the landlord $1140.
In addition to the base rent, there are utility allowances. These allowances vary but generally provide a fixed amount per bedroom type to cover electricity, gas, water, and sewer costs. If we assume a standard utility allowance of $200 for a two-bedroom apartment, the total reimbursement to the landlord increases to $1340 ($1140 base rent + $200 utilities).
To illustrate, let's consider a scenario where a landlord charges $1200 for rent and includes utilities. With a tenant paying $300, the government would cover the remaining $900 to meet the SAFMR of $1140. However, since the utility allowance is separate, the landlord receives an additional $200, bringing the total reimbursement to $1100 ($900 base rent + $200 utilities).
The typical reimbursement gap or surplus for a two-bedroom voucher in ZIP 13154 can be calculated based on these figures. If the landlord's asking price exceeds $1340, there will be a gap that must be covered by the tenant. Conversely, if the asking price is below $1140, the landlord will receive the full SAFMR amount plus any applicable utility allowance, resulting in a surplus.
Given the SAFMR of $1140 and a potential utility allowance of $200, landlords in ZIP 13154 should aim to keep their rental rates within the range of $1140 to $1340 to ensure full reimbursement without placing undue financial burden on the tenants. This ensures steady cash flow and compliance with Section 8 guidelines.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.