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 |
|---|---|---|---|---|
| 2BR | $1,420 | $267,420 | 0.53% | F |
| 3BR | $1,710 | $318,163 | 0.54% | F |
| 4BR | $1,880 | $384,827 | 0.49% | F |
| 5BR | $2,181 | $408,020 | 0.53% | F |
U.S. Census Bureau data (2024)
Macedon, NY, located in ZIP code 14502, is a residential area with a total population of 10,831. Only 16.8% of the residents are renters, indicating that it is primarily a homeownership-oriented community. The median household income in Macedon is $83,330, which suggests a relatively affluent neighborhood. The median home value stands at $317,538, reflecting the high cost of living and property values in the area.
The Federal Market Rent (FMR) for ZIP code 14502 in fiscal year 2024 is set at $1,140. This figure is higher than the reported market rent of $1,003, based on Census American Community Survey data. This difference between FMR and market rent can be advantageous for Section 8 landlords, as it allows them to potentially charge more than the typical market rate while still being within the allowable limits of the housing assistance program.
Given these economic conditions, Macedon appears to be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means they can rely on the steady flow of Section 8 payments without the need to actively manage rental rates. On the other hand, for those looking to add value to their properties, there is an opportunity to improve homes and possibly command rents closer to the FMR level, thereby increasing cash flow.
Investors should consider the demographic makeup of Macedon when deciding whether to adopt a hands-off or hands-on strategy. With a significant portion of the population owning homes and a relatively high median income, there may be less demand for subsidized housing. However, the presence of Section 8 tenants can provide a stable and predictable source of income, making it an attractive option for hands-off operators.
In conclusion, Macedon's ZIP code 14502 presents a mixed picture for Section 8 investors. It is a predominantly homeowner-focused area with a decent median income, but the gap between FMR and market rent offers opportunities for both passive and active management styles. Whether an investor chooses to be hands-off or seeks to add value through improvements, the economic indicators suggest Macedon could be a viable investment location.
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.