Section 8 Fair Market Rent (FMR) for ZIP 14603 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 14603 is located in Rochester, NY, and it is categorized as a unique ZIP code supporting both business and residential activity. However, specific demographic details such as population, percentage of renters, median income, and median home value are not available due to the nature of the ZIP code being primarily for PO boxes. Despite the lack of detailed demographic information, it is known that the ZIP code contains 11 business establishments, employing around 180 people with an annual payroll of $8,882,000.

Moving into the economic analysis of renting, the Fair Market Rent (FMR) for ZIP code 14603 in fiscal year 2024 is set at $1340. Unfortunately, current market rent data for the same area is not readily available, which makes direct comparison challenging. The FMR is a critical benchmark for landlords and small-portfolio investors considering participation in the Section 8 housing voucher program, as it determines the standard payment amounts for the Housing Choice Voucher program.

Given the limited availability of market rent data and the presence of specific FMR figures, ZIP code 14603 might be better suited for hands-off voucher operators who rely on the Section 8 program for their rental income. The absence of detailed market rent information suggests that the area may not be as active in the private rental market, making it less appealing for hands-on value-add buyers who seek opportunities to increase property value and rental income beyond the FMR.

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.