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 |
|---|---|---|---|---|
| 2BR | $1,420 | $269,830 | 0.53% | F |
| 3BR | $1,710 | $412,578 | 0.41% | F |
| 4BR | $1,880 | $566,621 | 0.33% | F |
| 5BR | $2,181 | $680,662 | 0.32% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 14472, Honeoye Falls, NY, is set at $1,300 per month for fiscal year 2024. This figure represents the payment standard for Section 8 housing assistance in the area, meaning that if you participate in the program, the government will pay up to $1,300 towards the rent of your property. It's important to note that this is not the amount tenants will pay; it's the ceiling for the subsidy.
To put this into context, the average rent for a two-bedroom apartment in Honeoye Falls, according to recent Census American Community Survey (ACS) data, is around $1,157. This indicates that the FMR is slightly above the market rate, which can be beneficial for landlords who want to ensure they receive a fair price for their units.
The demand for rentals in Honeoye Falls is also noteworthy. With a renter share of 20.0%, there is a steady demand for affordable housing options. This means that about one-fifth of the households in the area are renters, creating a consistent pool of potential tenants for Section 8 properties.
When considering the acquisition cost of a property in Honeoye Falls, the median home value of $444,601 is a key factor. While this figure is high, it reflects the overall real estate market in the area. The FMR helps offset some of the costs associated with owning a property, making it a viable option even in a higher-cost market.
Before committing to a Section 8 rental, it's crucial to verify that your property meets the necessary inspection standards. The Housing Quality Standards (HQS) inspection ensures that your unit is safe, decent, and sanitary. This is a mandatory step and passing the inspection is essential for participation in the program.
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.