Location: Rochester, NY | Metro: Rochester, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
ZIP 14413, located within the Rochester, NY Metropolitan Statistical Area (MSA), should be considered an appreciation play within a Section 8 portfolio strategy. While the cash-flow potential is limited due to the lack of market rental rates, the area's characteristics suggest strong long-term growth.
The Fair Market Rent (FMR) for ZIP 14413 in fiscal year 2024 is set at $1140. This figure represents the government's estimate of the maximum amount that should be charged for housing in this area to ensure that low-income families do not pay more than 30% of their adjusted income on housing. Given the absence of market rental rates, it's prudent to assume that actual market rents could be higher, especially if the local economy is robust and demand for housing is strong.
The median income data for ZIP 14413 is also unavailable. However, the fact that the renter share is 0.0% suggests that the majority of households in this ZIP code own their homes. This indicates a stable community with homeowners who are likely invested in maintaining property values, which bodes well for appreciation.
While the immediate cash flow might not be as strong compared to other areas with higher market rents, the potential for property value appreciation makes ZIP 14413 a valuable addition to a diversified portfolio. Landlords and small-portfolio investors looking to balance their investments with both short-term cash flow and long-term appreciation should consider including properties in this ZIP code.
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.