Section 8 Fair Market Rent (FMR) for ZIP 14450 - 2027

Investment Score for ZIP 14450

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,150
1 Bedroom	$1,290
2 Bedrooms	$1,620
3 Bedrooms	$1,950
4 Bedrooms	$2,140
5 Bedrooms	$2,482
6 Bedrooms	$2,780
7 Bedrooms	$3,002
8 Bedrooms	$3,152

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,290	$171,789	0.75%	D
2BR	$1,620	$288,248	0.56%	F
3BR	$1,950	$374,792	0.52%	F
4BR	$2,140	$457,429	0.47%	F
5BR	$2,482	$566,998	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 14450 (Fairport, NY) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 14450, as per the 2026 data, is set at $1790 for a two-bedroom unit. This figure represents 19.6% of the median household income in Fairport, which stands at $109,466. The FMRs for other bedroom sizes are as follows: - 0BR: $1270 - 1BR: $1430 - 3BR: $2160 - 4BR: $2370 These figures provide a benchmark for affordable housing under the Section 8 program. However, it's important to understand how these FMRs compare to actual rental prices in the area. According to Zillow, the median price for a two-bedroom home in Fairport is $274,703. This translates to a price-to-FMR ratio of 12.8x, indicating that the actual rental prices are significantly higher than the FMRs. This high ratio creates several constraints for voucher holders. For instance, a voucher holder with a two-bedroom voucher would find it challenging to secure a rental property that matches the median price, as the voucher amount ($1790) is far below the actual rental costs. Consequently, voucher holders are often limited to finding properties that are either significantly below the median price or willing to accept the lower voucher amount. #### Affordability & Renter Profile The renter profile in ZIP code 14450 is relatively affluent, given the median household income of $109,466. With only 23.0% of the population being renters, the rental market is relatively small compared to the overall housing market. This suggests that the majority of residents in Fairport own their homes, which could indicate a stable and desirable living environment. The occupancy rate of 96.4% indicates that the rental market is quite tight, with very few vacant units available. This tightness can be attributed to the fact that the area is attractive to homeowners due to its high median income and desirable living conditions. As a result, landlords who do offer rentals may have the advantage of setting higher prices, further exacerbating the affordability gap for voucher holders. #### Investor Angle From an investor perspective, the ZIP code 14450 presents both opportunities and challenges. The high price-to-FMR ratio means that properties rented out at FMR levels will likely generate negative cash flow, as the actual rental market values are much higher. For example, a two-bedroom unit priced at $1790 would need to be rented at approximately $274,703 to align with the Zillow median, which is unrealistic in a rental context. However, if an investor is willing to operate within the constraints of the Section 8 program, they should be aware that the investment grade is likely to be low due to the tight market and the significant disparity between FMR and actual rental prices. Investors might find it difficult to attract tenants willing to pay the higher market rates while also being eligible for Section 8 vouchers. #### Specific Actionable Insights 1. **Target Lower-Income Units**: Given the high price-to-FMR ratio, investors should focus on acquiring properties that are already priced at or near the FMR levels. For instance, a two-bedroom unit priced at around $1790 would be more likely to attract Section 8 voucher holders. This strategy requires identifying units that are undervalued relative to the market but still meet the needs of voucher holders. 2. **Consider Multi-Family Properties**: Single-family homes may command higher rental prices, making them less suitable for Section 8 tenants. Instead, multi-family properties such as apartments or townhouses might be more aligned with FMR levels. These types of units often have lower maintenance costs and can be managed more efficiently, potentially leading to better returns. 3. **Engage with Local Housing Authorities**: To navigate the complexities of the Section 8 program, investors should engage closely with local housing authorities. Understanding the specific requirements and limitations of the program can help in optimizing the use of vouchers and ensuring compliance with regulations. #### Bottom Line For Section 8-focused investors, ZIP code 14450 (Fairport, NY) presents a challenging market due to the high price-to-FMR ratio and the tight rental market. The recommendation is to **Skip** this ZIP code unless you are prepared to target lower-income units or multi-family properties specifically. The high median income and limited rental supply make it difficult to achieve positive cash flow when renting at FMR levels. Therefore, unless there is a clear strategy to work within these constraints, investing in this area is not advisable for those primarily interested in Section 8 properties.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.