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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $249,167 | 0.57% | F |
| 3BR | $1,710 | $247,079 | 0.69% | D |
| 4BR | $1,880 | $284,372 | 0.66% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP code 14464, located in Hamlin, NY within the Rochester, NY MSA, does not align favorably for landlords. The Fair Market Rent (FMR) set at $1140 for the fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $1,009. This discrepancy suggests that landlords may struggle to cover costs and maintain profitability based on the current FMR.
Regarding property acquisition, the median home value of $242,474 presents an opportunity for affordable entry into the market. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts to sell indicates that the local real estate market's liquidity and competition are unclear. Landlords should conduct thorough due diligence to understand the dynamics of the local housing market before making any investment decisions.
Tenant demand in ZIP 14464 is moderate. With a total population of 6,755 and a renter share of 12.2%, landlords can expect a steady but limited pool of potential tenants. This relatively low renter share implies that competition for rental units may be less intense compared to areas with higher concentrations of renters.
Verdict: In ZIP code 14464, the rent math is unfavorable due to the disparity between the FMR and the actual market rent. While property acquisition appears affordable with a median home value of $242,474, the absence of key metrics such as DOM and price-cut percentages leaves some uncertainty about the ease of selling properties. Tenant demand is present but limited, given the modest renter share of 12.2%. Landlords and small-portfolio investors must carefully evaluate these factors to determine if this area suits their investment strategy.
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.