Location: Wyoming County, 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 | $174,649 | 0.81% | C |
| 3BR | $1,710 | $230,107 | 0.74% | D |
| 4BR | $1,880 | $239,596 | 0.78% | D |
U.S. Census Bureau data (2024)
11.6% of residents in ZIP code 14481, Leicester, NY, are renters, indicating a modest demand for rental properties. However, the $720 market rent figure from the Census ACS suggests that rental prices are relatively low compared to the $1200 Fair Market Rent (FMR) for the area in fiscal year 2024. This gap presents an opportunity for landlords to potentially increase their rental income while still being competitive in the local market. The median home value of $218,900 reflects the overall affordability of the housing stock in Leicester, making it accessible for both homeowners and investors looking to purchase rental properties. With a median income of $79,135, the local population has the financial means to afford higher rents, especially if they qualify for assistance through programs like Section 8. The lack of data on days on market (DOM) and the percentage of price-cut shares indicates a stable market without significant fluctuations or long periods of unsold inventory. For landlords and small-portfolio investors, these factors combined point to a favorable environment for leveraging Section 8 contracts, which can provide steady, government-backed rental income. In conclusion, given the alignment between the local market rent and the potential for higher rents supported by the FMR, along with the reasonable median home value and solid median income levels, investing in Section 8 properties in Leicester, NY, is a prudent strategy.
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.