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 | $234,516 | 0.61% | D |
| 3BR | $1,710 | $259,418 | 0.66% | D |
| 4BR | $1,880 | $282,691 | 0.67% | D |
U.S. Census Bureau data (2024)
ZIP code 14548, located in Manchester, NY, falls within the broader Rochester, NY Metropolitan Statistical Area (MSA). When analyzing the Financial Maximum Rent (FMR) set at $1280 for fiscal year 2024, the market rent of $948, the median home value of $244,025, and the 16.1% renter share, it becomes evident that 14548 represents a value pocket within the Rochester, NY MSA.
The FMR for ZIP 14548 is notably higher than the actual market rent, indicating a potential subsidy gap where tenants receiving Section 8 assistance can afford units priced above the market average. This makes the area attractive for landlords who can leverage the higher FMR to secure rental income that exceeds the local market rates.
The median home value of $244,025 in 14548 is lower compared to the typical home values found in other ZIP codes within the Rochester MSA. This suggests that property owners might find it easier to acquire properties here at a lower cost relative to the metro area, which could translate into better investment opportunities.
A 16.1% renter share is significant but not unusually high for the region. However, when combined with the lower median home value, it points to an area where there is a notable concentration of renters who may be eligible for Section 8 assistance. This characteristic often signifies a sweet spot for Section 8 landlords, as it balances affordability with a sufficient number of potential tenants.
To summarize, ZIP 14548 stands out as a value pocket within the Rochester, NY MSA. It offers a combination of lower property costs, a decent renter population, and the possibility of renting properties at rates subsidized by the higher FMR, making it an advantageous location for landlords and small-portfolio investors seeking stable returns without overextending their capital.
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.