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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $150,349 | 0.94% | C |
| 3BR | $1,710 | $231,353 | 0.74% | D |
| 4BR | $1,880 | $230,220 | 0.82% | C |
| 5BR | $2,181 | $200,476 | 1.09% | B |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 14606, located in Rochester, NY, within Monroe County, are straightforward when analyzed. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1210. This figure represents the maximum amount that the government will pay toward rent for a two-bedroom unit in this area.
Local market rent, as measured by ZORI (Zillow Observed Rent Index), is slightly higher at $1289. This indicates that landlords could potentially charge more than the SAFMR if they wish to attract tenants without vouchers.
A landlord participating in the Section 8 program should understand how the voucher payment works. The voucher pays the difference between the tenant's portion and the total rent, up to the SAFMR limit. The tenant is responsible for paying 30% of their adjusted income toward rent. Additionally, there are utility allowances that can be factored into the total payment received by the landlord.
To illustrate, if a tenant's adjusted monthly income is $1,000, then they would pay 30% of this, which amounts to $300. Assuming a utility allowance of $150, the government would pay the remaining $760 to reach the SAFMR of $1210. Therefore, the landlord receives a total of $1210 per month for a two-bedroom apartment.
In ZIP 14606, given the SAFMR of $1210 and the local market rent of $1289, landlords who participate in the Section 8 program would experience a reimbursement gap of $79 per month. This means that if they charge the local market rent, they would receive less than the full market value from the combination of the voucher payment and the tenant's contribution.
For landlords, the decision to accept a Section 8 voucher tenant involves weighing the guaranteed government payment against the potential for higher rents in the open market. The SAFMR ensures a steady income but may leave a landlord with a lower return compared to the non-voucher market rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.