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 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 14539, located within the Rochester, NY MSA, provides insights into its viability for Section 8 investments.
The rent math does not work favorably due to the lack of market rent data. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1090, which cannot be compared against the market rent without specific figures. This absence of market rent data makes it challenging to assess whether the FMR aligns with what tenants can afford or if it reflects the actual rental values in the area.
Regarding acquisition affordability, the incomplete data on median home value, days on market (DOM), and the percentage of homes that have been listed with price cuts hinders a thorough evaluation. Without these key metrics, landlords and small-portfolio investors cannot accurately gauge the cost and time associated with acquiring properties in this area, nor can they determine the likelihood of needing to adjust their asking prices.
Tenant demand is present but limited. The zip code has a population of 102, with 19.1% being renters. This indicates that while there is a segment of the population seeking rental housing, the overall demand is low due to the small size of the zip code. Landlords should prepare for a niche market with fewer potential tenants.
In conclusion, ZIP 14539 presents challenges for Section 8 investments due to insufficient data on market rents and acquisition costs. The small population size limits tenant demand, making this area less attractive for large-scale investment strategies. However, for those willing to navigate the uncertainties and focus on a smaller scale, there may still be opportunities to serve the local rental market effectively.
Data Sources: FMR data from HUD (2027). 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.