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 |
The ZIP code 14558 is located in South Lima, NY, within Livingston County. Due to the nature of this ZIP code being primarily a PO Box area, there is limited demographic data directly available. However, we can infer some characteristics from the nearby areas.
The surrounding neighborhoods include places like Conesus Lake Junction, Sand Point, Pebble Beach, and Tuxedo Park, which are likely rural or semi-rural communities. Given this context, it is reasonable to assume that ZIP 14558 also has a similar profile, characterized by low-density living and a focus on residential properties rather than commercial activity.
Moving onto the economic landscape pertinent to Section 8 investors, the Fair Market Rent (FMR) for ZIP 14558 in fiscal year 2024 is set at $1160. This figure represents the benchmark for rental subsidies in the area. While specific market rent data for 14558 was not found, considering the rural setting, it is probable that market rents are lower than the FMR, making it a favorable location for hands-off voucher operators who seek to maintain properties at or slightly below the subsidy rate.
The lack of detailed demographic data suggests that this area may not attract a large number of renters seeking value-added improvements. Instead, it is better suited for investors looking to manage properties with minimal intervention, ensuring they remain compliant with HUD standards and receive stable rental income through the Section 8 program.
In conclusion, ZIP 14558 in South Lima, NY, is a good fit for hands-off Section 8 voucher operators due to its rural character and the established FMR of $1160. Investors should focus on maintaining properties at or below this rent level to maximize their eligibility for the program and ensure steady cash flow.
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.