Location: Rochester, NY | Metro: Rochester, NY MSA
| 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 |
ZIP code 14538, located within the Rochester, NY Metropolitan Statistical Area (MSA), has a Fair Market Rent (FMR) of $1140 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors considering the rental market dynamics in this region.
Typically, the Rochester, NY MSA sees a range of FMRs that vary based on neighborhood characteristics, but specific figures for comparison are not provided here. Given the FMR of $1140 for ZIP 14538, it can be inferred that this area likely falls into the value pocket category within the broader Rochester MSA. This classification is based on the lower FMR compared to what might be expected in more central or desirable areas of the city where rents could be higher.
The lack of data for market rent, home value, and renter share percentages in ZIP 14538 means we cannot directly compare these metrics against the typical ZIP codes in Rochester. However, the absence of a high renter share percentage suggests that this ZIP may not have a particularly large concentration of renters who rely on government assistance programs such as Section 8. Typically, a high renter share coupled with below-average home values would indicate a sweet spot for Section 8 properties, but this is not evident in the available data for ZIP 14538.
Investors should note that the FMR is a key indicator for eligibility in the Section 8 program, and at $1140, it provides a benchmark for rental pricing in this area. While the exact positioning of ZIP 14538 within the Rochester MSA's rental hierarchy remains unclear due to missing comparative data, the lower FMR suggests a potentially more affordable living area that could attract a variety of tenants, including those seeking subsidized housing options.
To make informed decisions, landlords and investors should conduct further research into the local real estate market trends and seek additional data on market rents and home values for ZIP 14538. This will provide a clearer picture of the investment potential and the specific needs of the rental market in this area.
Data Sources: FMR data from HUD (2027).
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.