Location: Yates 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,140 | $232,614 | 0.49% | F |
| 2BR | $1,420 | $282,463 | 0.5% | F |
| 3BR | $1,710 | $301,705 | 0.57% | F |
| 4BR | $1,880 | $346,482 | 0.54% | F |
| 5BR | $2,181 | $478,008 | 0.46% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 14512 (Naples, NY) on the axes of yield and stability reveals it to be a moderate cash-flow opportunity with low stability. This analysis is based on the Federal Market Rent (FMR) of $1,070 for fiscal year 2024, compared to the local market rent of $969. The discrepancy between FMR and market rent suggests a modest potential for rental income above market rates if properties are listed at FMR levels.
The median home value in Naples, NY is $273,861, which indicates that property acquisition costs are relatively high. However, the FMR is set higher than the market rent, implying that landlords can potentially achieve a better yield by renting their properties at FMR rates. This yields an estimated monthly profit margin of $101 per unit, assuming a landlord rents at the FMR rate and incurs typical expenses.
On the stability axis, the indicators are less favorable. Only 14.3% of residents are renters, which is a low percentage, suggesting a limited pool of potential tenants. Additionally, the lack of data on days on market (DOM) implies uncertainty regarding how quickly properties can be leased out. The median household income of $77,130 provides some assurance that there is economic capacity to support rental payments, but the low rental population percentage and unknown DOM data contribute to instability.
Summary:
Given these factors, ZIP 14512 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The modest yield advantage over market rent is tempered by the risk associated with a low proportion of renters and the absence of critical DOM data. Landlords should proceed with caution and consider diversifying their investment portfolios beyond this area to mitigate risk.
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.