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 | $1,050 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $263,695 | 0.56% | F |
| 3BR | $1,770 | $345,555 | 0.51% | F |
| 4BR | $1,950 | $487,336 | 0.4% | F |
| 5BR | $2,262 | $558,758 | 0.4% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 14526, located in Penfield, NY, within the Rochester, NY Metropolitan Statistical Area (MSA), does not favor Section 8 participation. The Fair Market Rent (FMR) for FY 2024 is set at $1340, which is below the market rent of $1518 as indicated by ZORI (Zillow Observed Rent Index). This discrepancy means that landlords would receive less income from Section 8 tenants compared to what they could earn from market-rate renters.
Acquisition in this area is relatively affordable, with a median home value of $387,281. The quick turnover rate, evidenced by a 7-day Days on Market (DOM), and the fact that 0% of listings have been subject to price cuts, suggest that homes are selling briskly without needing to be discounted. These factors indicate a stable and favorable market for purchasing properties.
Tenant demand is present but limited. With a total population of 19,629, only 16.0% of residents are renters. This low percentage of renters implies a smaller pool of potential Section 8 tenants relative to homeowners, which could make it challenging to find enough qualified applicants to fill all rental units.
In conclusion, while the acquisition cost and market conditions in ZIP 14526 are favorable, the rent math does not support Section 8 participation due to the lower FMR compared to the market rent. Additionally, the relatively low renter share of the population suggests that finding tenants through Section 8 might be more difficult than in areas with higher rental demand. Landlords and small-portfolio investors should carefully weigh these factors before deciding to participate in the Section 8 program in this ZIP code.
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.