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 |
|---|---|---|---|---|
| 3BR | $1,710 | $355,408 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 14480 encompasses a predominantly owner-occupied neighborhood with a population of 520 residents. Only 14.6% of the residents are renters, indicating a community where homeownership is the norm. The median household income in this area stands at $57,152, which suggests a middle-class demographic. Median home values are notably high at $379,865, reflecting a stable and potentially desirable living environment.
When it comes to rental economics, the Fair Market Rent (FMR) for ZIP 14480 in fiscal year 2024 is set at $1,120. However, the actual market rent, according to Census ACS data, is significantly lower at $896. This discrepancy highlights an opportunity for Section 8 investors who can leverage the higher FMR to cover their costs and potentially generate a profit, despite the lower market rents.
The characteristics of ZIP 14480 make it suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the relatively low percentage of renters and the stable median home values indicate a less volatile market, reducing the risk associated with tenant turnover and property management. On the other hand, value-add buyers could find opportunities in improving properties to command rents closer to the FMR, especially if they target areas with underutilized potential within the ZIP code.
In summary, ZIP 14480 presents a balanced investment landscape for Section 8 investors. With a median income of $57,152 and median home values of $379,865, the area offers a solid foundation for rental investments. The gap between the FMR of $1,120 and the market rent of $896 provides a margin for profitability, making it a viable option for both passive and active investors.
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.