Section 8 Fair Market Rent (FMR) for ZIP 14505 - 2027
Location: Rochester, NY | Metro: Rochester, NY MSA
FY 2027 Fair Market Rent Rates
| 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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$80,382
Housing Authorities Serving ZIP 14505
A landlord considering investing in ZIP 14505 (Marion, NY) for Section 8 must follow a structured decision-making process based on the following criteria:
1. Does the Fair Market Rent (FMR) of $1070 cover the debt service on a property valued at $239,787?
- Yes. The FMR of $1070 is sufficient to clear the debt service on a property of that value, assuming typical financing terms. This indicates that the rental income would be adequate to meet mortgage payments and other financial obligations associated with owning the property.
- No. If the debt service exceeds the FMR, then the property is not financially viable under Section 8 guidelines. However, given the FMR and the property value, it's likely that the FMR does indeed cover the debt service.
- It Depends. The answer can vary depending on the interest rate and loan terms. For a $239,787 property, if the monthly debt service is less than $1070, then the answer is yes. Otherwise, the landlord should seek properties with lower purchase prices or consider refinancing options.
2. Is the market rent of $634 above, at, or below the FMR?
- Below. The market rent of $634 is significantly below the FMR of $1070. This suggests that landlords could potentially charge higher rents to Section 8 tenants, thereby increasing their revenue and profitability.
- At or Above. If the market rent were equal to or higher than the FMR, it would indicate that landlords are already charging close to or above the maximum allowable rent for Section 8. In such a scenario, there would be little room to increase rents, which could impact profitability.
3. Do the 20.6% of renters and the unknown days on market (DOM) indicate enough demand?
- Yes. With 20.6% of the population renting, there is a notable demand for rental housing. Although the DOM is listed as 'N/A', the percentage of renters suggests that there is sufficient demand to support Section 8 properties. Landlords can expect steady occupancy rates.
- No. If the percentage of renters were much lower, it would suggest insufficient demand for rental properties. Since we don't have DOM data, we cannot assess how quickly properties are being rented out. However, the 20.6% figure is positive and indicative of demand.
- It Depends. The lack of DOM data makes it difficult to assess the speed at which properties are being rented. However, the 20.6% figure suggests that there is a reasonable level of demand. Landlords should research further to determine if the DOM aligns with their investment goals.
Based on the analysis, ZIP 14505 presents a favorable environment for Section 8 investments. The FMR is likely to cover debt service, the market rent is below the FMR, and there is a decent percentage of renters indicating demand. However, the landlord should still verify the exact debt service and investigate the DOM for a clearer picture.
Data Sources: FMR data from HUD (2027). 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.