Location: Seneca 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 | $155,850 | 0.91% | C |
| 3BR | $1,710 | $186,400 | 0.92% | C |
| 4BR | $1,880 | $184,009 | 1.02% | B |
| 5BR | $2,181 | $214,802 | 1.02% | B |
U.S. Census Bureau data (2024)
The ZIP code 14489 in Lyons, NY, stands out within Wayne County due to its unique demographic and economic profile. With a population of 6,897 residents, it has a relatively low rental rate at 24.6%, indicating that the majority of its inhabitants own their homes. The median income of $68,250 is above the national average, suggesting a financially stable community. Additionally, the median home value of $166,172 reflects a moderate housing market where homeownership is both attainable and valued.
When considering the Section 8 voucher program, the data reveals a significant opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 14489 is set at $1,190 for fiscal year 2024, which is notably higher than the $962 market rent observed in the area according to the Census American Community Survey. This discrepancy means that landlords accepting Section 8 vouchers can potentially receive a higher rental income compared to the local market rates, making it an attractive option for those looking to maximize their returns while providing affordable housing.
The data signature for ZIP 14489 indicates a stable environment. The relatively high median income supports a strong local economy, and the moderate home values suggest a balanced housing market. Given these factors, along with the favorable economics of Section 8 vouchers, this ZIP code appears to be a reliable investment choice for those interested in long-term stability and consistent rental income. Landlords should consider the benefits of participating in the Section 8 program to capitalize on the financial advantages it offers in this specific market.
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.