Location: Yates County, 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 | $1,010 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $221,101 | 0.64% | D |
| 3BR | $1,710 | $222,413 | 0.77% | D |
| 4BR | $1,880 | $245,702 | 0.77% | D |
| 5BR | $2,181 | $326,819 | 0.67% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 14456, located in Geneva, NY, within Ontario County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $1180. This figure is specific to this ZIP code, reflecting the unique housing market conditions of the area.
In contrast, the local market rent for a two-bedroom unit in ZIP 14456 is reported to be $982 according to Census ACS data. This difference highlights the premium that Section 8 provides to landlords in this region.
When a tenant uses a Section 8 voucher, they typically pay 30% of their adjusted income towards rent, which is then supplemented by the government to cover the remainder up to the SAFMR limit. For instance, if a tenant's monthly adjusted income is $1,000, they would contribute $300 towards the rent. The government would then cover the rest of the SAFMR amount, which in this case would be $880 ($1180 - $300).
Additionally, there are utility allowances that can vary but are generally included in the total payment. These allowances are designed to help cover electricity, gas, water, and sewer costs. In ZIP 14456, the utility allowance for a two-bedroom unit might add another $200-$300 to the total reimbursement, depending on the specifics of the household's needs and the county's guidelines.
Therefore, the total reimbursement a landlord could expect from a Section 8 voucher for a two-bedroom apartment in ZIP 14456 would be the SAFMR of $1180 plus any applicable utility allowances. If we take an average utility allowance of $250, the total reimbursement would be approximately $1430.
This means that for a two-bedroom unit with a market rent of $982, a landlord participating in the Section 8 program would see a surplus of about $448 per month over the local market rent, assuming the utility allowance is $250. This surplus represents the additional financial benefit landlords receive when renting to tenants with Section 8 vouchers compared to the typical market rates in ZIP 14456.
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.