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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $178,209 | 0.8% | D |
| 3BR | $1,710 | $211,120 | 0.81% | C |
| 4BR | $1,880 | $230,606 | 0.82% | C |
| 5BR | $2,181 | $272,362 | 0.8% | C |
U.S. Census Bureau data (2024)
The market in ZIP 14513, Newark, NY, is characterized by a clear distinction between the Fair Market Rent (FMR) and the actual market rent, indicating a dynamic environment where demand and supply are closely intertwined. The FMR set at $1140 for fiscal year 2024 contrasts with the Census ACS reported market rent of $1,007. This suggests that while the government's benchmark for rental pricing is higher, the local market has adjusted to a slightly lower equilibrium, possibly due to competitive pressures among landlords.
The median home value in Newark, NY, stands at $197,627, which is a key indicator of the overall economic health of the area and the affordability of homeownership. However, the lack of specific data on price-cut share and days on market (DOM) means we cannot conclusively determine if supply currently outpaces demand or vice versa. Nonetheless, the fact that there is a discrepancy between FMR and market rent hints at a market where supply might be keeping pace with or slightly exceeding demand, as landlords adjust their rents to attract tenants.
A significant 29.3% of the population in ZIP 14513 are renters. This figure is indicative of ongoing long-term housing pressure, suggesting that a substantial portion of residents find renting more suitable or affordable than purchasing a home. Such a high percentage of renters can imply several things: it may point towards an influx of young professionals, students, or individuals who prefer the flexibility of renting over owning. Alternatively, it could reflect economic conditions that make homeownership less accessible for many residents.
In summary, the market in ZIP 14513 is marked by a balance between rental and ownership options, with rental prices slightly below the FMR threshold. The high percentage of renters signals a persistent housing pressure that landlords and investors should consider when strategizing their property management and investment decisions.
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.