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 | $238,494 | 0.6% | F |
| 3BR | $1,710 | $302,535 | 0.57% | F |
| 4BR | $1,880 | $347,664 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 14485, located in Lima, NY, has a population of 4,153 residents. Among them, 17.8% are renters, indicating that it is primarily a homeowner-dominated area. This suggests that the demand for housing vouchers, such as those provided through the Section 8 program, is likely to be lower compared to areas with higher percentages of renters.
The median household income in this ZIP code is $80,341. Considering the typical market rent of $860 per month, this represents approximately 13.2% of the median household income. In comparison, the Fair Market Rent (FMR) for FY 2024 in ZIP 14485 is set at $1070, which would consume about 16.2% of the median income. These figures indicate that the actual market rent is slightly below the FMR, making it somewhat more affordable for tenants without vouchers.
A landlord in ZIP 14485 can expect a mix of tenants, but given the low percentage of renters and the relatively high median income, it is unlikely that many tenants will rely solely on Section 8 vouchers. The majority of potential tenants will likely need to supplement their voucher amount to cover the full cost of rent, especially if they aim to live in properties priced closer to the FMR. Landlords should prepare for a tenant pool that includes individuals who may have some disposable income beyond what is covered by their housing vouchers.
In summary, while there is a presence of renters in ZIP 14485, it is not a renter-heavy area with deep voucher demand. The typical rent eats a smaller portion of the local income compared to the FMR, suggesting a balance between affordability and the necessity for some financial contribution from tenants.
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.