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 Fair Market Rent (FMR) for ZIP code 14556 in fiscal year 2024 is set at $1160. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the rent you will receive; it is the payment standard used by the Housing Choice Voucher Program.
While the local median rent for ZIP 14556 is listed as N/A, the FMR serves as a benchmark for what is considered a reasonable rent for the area. The percentage of renters in the area is also listed as N/A, but typically, a higher renter share indicates stronger demand for rental properties. This can be beneficial for landlords as it suggests a larger pool of potential tenants.
The acquisition cost for properties in this ZIP code is listed as N/A, which means you'll need to do your own research to determine if the property values align with the expected rental income. However, the FMR provides a clear guideline on how much you can expect to be reimbursed per month through the Section 8 program.
Before deciding to participate in Section 8 with a property in ZIP 14556, it is crucial to verify that your property meets the necessary inspection standards. These inspections ensure that the property is safe and habitable for tenants, and failing these inspections could result in disqualification from the program.
In summary, the FMR of $1160 sets the maximum rent for Section 8 participants in ZIP 14556. Although specific local median rents and renter shares are not available, understanding the FMR helps in assessing the financial viability of your investment. Ensure your property passes the required inspections to avoid any issues.
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.