Location: Rochester, NY | Metro: Rochester, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
$1340 is the Fair Market Rent (FMR) for ZIP 14602 in FY 2024, indicating the rental value benchmark set by HUD for the area.
N/A market rent highlights the lack of specific market rent data for ZIP 14602, which can make it challenging to compare against other localities without additional research.
N/A median home value suggests that there is no specific median home value data available for ZIP 14602, but this does not necessarily mean that property values are low; it could be due to limited data.
N/A% renter share implies that there is no precise data on the percentage of renters in ZIP 14602, which is important for understanding the demand for rental properties.
N/A median income indicates that there is no specific median income figure available for ZIP 14602, which is crucial for assessing the affordability of housing in the area.
N/A-day DOM (Days On Market) points to the absence of specific data on how long properties typically stay on the market before being sold, which is useful for gauging market activity.
N/A% price-cut share means there is no data on the percentage of homes that have had their prices reduced while on the market, which can provide insight into seller flexibility and market conditions.
The data available for ZIP 14602 is limited, making it difficult to form a comprehensive analysis. However, the presence of $1340 FMR provides a solid reference point for landlords and investors looking to align rents with federal guidelines. Given the lack of market-specific data, landlords should consider the broader economic context and competitor pricing to ensure they remain competitive. The verdict on Section 8 eligibility for ZIP 14602 remains contingent upon the availability of more detailed local data.
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.