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 | $256,966 | 0.55% | F |
| 3BR | $1,710 | $306,183 | 0.56% | F |
| 4BR | $1,880 | $360,064 | 0.52% | F |
U.S. Census Bureau data (2024)
In Hemlock, NY (ZIP 14466), there are several risks associated with investing in Section 8 properties that landlords should be aware of. Tenant turnover is likely to be high due to the significant gap between the market rent of $779 and the Fair Market Rent (FMR) for FY 2024, which is set at $1070. This discrepancy can lead to tenants seeking higher-rent homes that better match their financial expectations, increasing the likelihood of frequent moves.
Vacancy exposure is another concern, as the Days on Market (DOM) for properties in this area is not available. This lack of data makes it difficult to predict how long a property might remain vacant between tenancies, posing a risk for rental income stability. Additionally, the typical home value of $282,736 combined with a median income of $108,085 suggests that many homeowners may struggle to keep up with maintenance costs, potentially leading to deferred maintenance issues. These problems can affect the overall quality and attractiveness of the property to potential tenants.
However, these risks must be weighed against the high proportion of renters in the area, with 5.7% of the population being renters. High renter density typically indicates a strong demand for rental properties, including those supported by Section 8 vouchers. The presence of a substantial number of renters increases the likelihood of finding qualified voucher holders who are ready to move into available units.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.