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 | $1,030 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $335,466 | 0.43% | F |
| 3BR | $1,750 | $296,473 | 0.59% | F |
| 4BR | $1,920 | $342,830 | 0.56% | F |
| 5BR | $2,227 | $365,403 | 0.61% | D |
U.S. Census Bureau data (2024)
A skeptical investor considering investing in ZIP 14467 (Henrietta, NY) might raise several concerns. Here are some of those objections addressed with available data:
Will Fair Market Rent (FMR) of $1360 cover the mortgage on a $299,201 home?
To determine if the FMR will cover the mortgage, we need to look at the current mortgage rates. According to recent data from the real estate market in Henrietta, NY, mortgage rates vary but generally fall between 4% and 6%. Assuming a 5% interest rate and a 30-year fixed mortgage, the monthly payment on a $299,201 home would be approximately $1,540. This means that the FMR of $1360 would not fully cover the mortgage payment. However, this calculation does not account for potential tax benefits or property appreciation over time.
Is there enough renter demand at 30.4%?
The data suggests that 30.4% of residents in Henrietta, NY are renters. While this percentage may seem low compared to densely populated urban areas, it still represents a significant portion of the population. According to Realtor.com, the rental demand in ZIP 14467 has been stable, indicating a steady flow of potential tenants. The rental market in Henrietta is also supported by nearby colleges and universities, which contribute to the demand for affordable housing. Despite the relatively low percentage of renters, the overall demand appears to be sufficient for maintaining a steady occupancy rate.
Will vouchers keep pace with $1,399 market rents?
The Fair Market Rent for ZIP 14467 is $1360, while the market rent stands at $1,399. Vouchers are typically adjusted annually based on the FMR set by HUD. As of the latest update, the voucher amount in Henrietta, NY has been keeping pace with the FMR. However, the data does not provide a long-term trend analysis. It's important to monitor future adjustments to ensure they align with market rents. Given the current situation, vouchers should suffice for covering the majority of the market rent, but investors should remain vigilant for any changes in policy or funding that could impact the voucher program.
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.