Location: Rochester, NY | Metro: Rochester, NY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,170 | $245,320 | 0.48% | F |
| 2BR | $1,450 | $327,522 | 0.44% | F |
| 3BR | $1,750 | $367,217 | 0.48% | F |
| 4BR | $1,920 | $462,709 | 0.41% | F |
| 5BR | $2,227 | $562,746 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 14424, located in Canandaigua, NY, presents a dynamic housing market. The Fair Market Rent (FMR) for the area is set at $1,310 for fiscal year 2024, while the actual market rent, as indicated by Zillow's ZORI, stands at $1,527. This suggests that the rental market is slightly above fair market levels, indicating a potential demand that exceeds the supply in the rental segment.
A key indicator of market conditions is the price-cut share, which is currently at 0.1%. This low percentage implies that very few properties are being discounted, pointing towards a seller's market where homes are likely selling close to their asking prices. Additionally, the median home value of $361,089 provides a benchmark for property values in the area, though the lack of Days on Market (DOM) data prevents a detailed analysis of how quickly homes are selling.
The 34.8% renter share is significant in understanding the long-term housing pressures. With nearly one-third of households renting, there is a substantial portion of the population who might be looking to buy if they can afford it. This could indicate future upward pressure on home prices if the trend continues, as more renters seek homeownership in response to rising rents.
In summary, ZIP 14424 appears to be a market where demand in the rental sector is robust, and the low price-cut share suggests a strong seller's position in the sales market. The high renter share points to ongoing housing pressures and potential for future shifts towards homeownership.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.