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 | $1,200 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,050 | $449,562 | 0.46% | F |
| 4BR | $2,250 | $533,283 | 0.42% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 14506, located in Monroe County within the Rochester, NY MSA, reveals a competitive but manageable rental environment. The HUD Fair Market Rent (FMR) for ZIP 14506 in fiscal year 2024 is set at $1580. This compares closely to the market rent reported by the Census American Community Survey (ACS), which stands at $1625. Given this slight difference, landlords can expect to cashflow marginally when renting to voucher tenants at the HUD FMR rate.
To further contextualize this, consider the median home value in the area, which is $466,660. Using this figure, we can calculate a rent-to-price ratio. With an average monthly rent of $1625, the annual rent would be approximately $19,500. This translates into a rent-to-price ratio of about 4.2%, suggesting that the rental income is relatively low compared to the property value. However, this ratio also indicates that the area may have strong potential for property appreciation over time, as the rental income alone does not fully justify the purchase price.
In terms of the days on market (DOM) and price cut percentages, these metrics are not available for the current analysis. Nevertheless, it's important to note that these factors could influence the decision between renting and buying. In a stable market like 14506, where the FMR and market rents are nearly aligned, the risk of significant price cuts or prolonged marketing periods is likely minimal.
The strongest investor angle in ZIP 14506 is appreciation. Given the high median home value and the relatively low rent-to-price ratio, there is a solid opportunity for long-term capital gains as property values rise. This makes the area particularly attractive for buy-and-hold strategies, where the focus is on building equity rather than maximizing short-term rental income.
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.