Location: Genesee 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $196,463 | 0.72% | D |
| 3BR | $1,710 | $236,182 | 0.72% | D |
| 4BR | $1,880 | $255,141 | 0.74% | D |
| 5BR | $2,181 | $310,443 | 0.7% | D |
U.S. Census Bureau data (2024)
Le Roy, NY, in ZIP code 14482, is a modest-sized community with a total population of 8,339 residents. The area has a relatively low rental rate at 25.7%, indicating that the majority of residents prefer homeownership. This preference is reflected in the median home value of $220,889, which suggests a stable housing market where property ownership is both feasible and desirable. The median household income stands at $74,216, providing a solid economic foundation for the community.
The rent economics in Le Roy present an interesting opportunity for investors. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1,090, while the actual market rent, according to Census ACS data, is lower at $906. This discrepancy between the FMR and the market rent can be leveraged by investors looking to enter the Section 8 housing market. Landlords who offer units within the price range of the FMR can attract tenants who receive Section 8 vouchers, ensuring steady occupancy and income.
Given these factors, Le Roy appears to be suitable for a hands-off voucher operator. The difference between the FMR and the market rent allows for a margin that covers maintenance and other operational costs, while still being affordable for voucher recipients. However, for a hands-on value-add buyer, there might be limited scope for increasing rents beyond the market level without losing out on Section 8 tenants. In summary, Le Roy offers a balanced environment where hands-off operators can benefit from the stability of Section 8 tenancy, whereas value-add strategies may need to focus more on property improvements rather than rent hikes to remain competitive and attractive to voucher holders.
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.