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 | $1,050 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $300,355 | 0.49% | F |
| 3BR | $1,770 | $390,906 | 0.45% | F |
| 4BR | $1,950 | $435,000 | 0.45% | F |
U.S. Census Bureau data (2024)
The market in ZIP 14471, Honeoye, NY, presents a dynamic equilibrium between rental and ownership segments. The Fair Market Rent (FMR) for the area stands at $1400 for fiscal year 2024, indicating a premium over the current market rent of $1,143, as reported by the Census ACS. This suggests that there is an upward pressure on rental prices, driven by factors such as the cost of living adjustments or changes in local policy.
The median home value in Honeoye is $318,975. While the data does not provide specifics on the percentage of price cuts or days on the market (DOM), the absence of significant discounts and quick sales could imply that the housing market is relatively stable, with neither an overwhelming surplus nor shortage of homes. However, the lack of these metrics makes it challenging to definitively conclude whether supply outpaces demand or vice versa.
A key indicator of long-term housing pressure is the 21.4% renter share. This figure suggests that while the majority of residents own their homes, there remains a notable portion of the population who prefer or need to rent. In a broader context, this can signal ongoing housing pressure, as renters often represent individuals or families who are either unable to afford homeownership or are in transitional phases of their lives, such as students or young professionals. This dynamic can influence the local economy and property values, as a steady influx of renters can support higher rents and potentially drive up home values over time.
The interplay between the rental and homeowner markets in Honeoye is indicative of a balanced but evolving environment. Landlords and small-portfolio investors should pay close attention to trends in rental pricing and the local economy to understand how these factors might impact their investments. The slight premium in FMR over market rent points towards potential growth in rental income, which could be beneficial for those looking to enter or expand in the rental market.
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.