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 | $75,595 | 1.88% | A+ |
| 3BR | $1,710 | $99,898 | 1.71% | A+ |
| 4BR | $1,880 | $95,016 | 1.98% | A+ |
| 5BR | $2,181 | $99,901 | 2.18% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 14605 in Rochester, NY, is predominantly a renter-heavy area, with 74.4% of the population renting their homes. This indicates a strong potential for demand among tenants utilizing Section 8 vouchers. The total population of 11,783 suggests a significant number of individuals who might be eligible for housing assistance.
The median household income stands at $21,201, which is notably lower than the average market rent of $1,378. To put this into perspective, the typical rent consumes approximately 65% of the median household income, calculated as follows: ($1,378 / $21,201) * 100 = 65%. This high percentage suggests that many residents will find it challenging to afford market rents without financial assistance.
The Fair Market Rent (FMR) for the fiscal year 2024 in ZIP 14605 is set at $1,110. This figure represents the maximum amount that a landlord can charge a tenant with a Section 8 voucher. Given the current market rent of $1,378, landlords would need to consider reducing their rent to align with the FMR to attract voucher holders.
A landlord in ZIP 14605 should expect tenants who rely heavily on government subsidies to cover their living expenses. These tenants will likely have a household income below the median, making up a significant portion of the rental market. Landlords must be prepared to work within the constraints of the Section 8 program, including regular inspections and adherence to property management guidelines.
To summarize, ZIP 14605 presents itself as an area with deep voucher demand due to its high percentage of renters and low median income. The typical rent eats up a substantial portion of the local income, underscoring the necessity for affordable options. Landlords should anticipate working with tenants who require financial assistance to meet their housing needs.
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.