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 | $1,010 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,710 | $256,994 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 14462 presents a dynamic rental market that is currently in flux. With a Fair Market Rent (FMR) of $1190 for fiscal year 2024, landlords can expect to set rents at a level that reflects the area's affordability standards. The market rent, as reported by the Census ACS, stands at $1,021. This indicates that the actual rents charged in the market are below the government-set FMR, suggesting a competitive environment where landlords might need to offer incentives to attract tenants.
The median home value in ZIP 14462 is $227,593, which places homeownership within reach for many families. However, the fact that 14.1% of the population are renters points to an ongoing tension between owning and renting. This relatively low percentage of renters could imply that there is a strong preference for homeownership in the area, but it also suggests that a significant portion of the population may be facing housing pressures that keep them in the rental market long-term. As the cost of homeownership rises, this could potentially increase the demand for rental properties, tightening the market further.
The lack of data on price-cut share and days on market (DOM) makes it difficult to assess the precise balance between supply and demand. However, given the disparity between FMR and market rent, it is reasonable to infer that demand may not be keeping pace with supply, leading to lower rents. Landlords should be aware of this potential oversupply and consider strategies to differentiate their properties to maintain occupancy rates.
In conclusion, ZIP 14462 offers a rental market that is influenced by both the affordability of homeownership and the dynamics of tenant preferences. Landlords and small-portfolio investors must stay informed about local trends and adjust their offerings accordingly to remain competitive and attractive to potential renters.
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.