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 | $1,050 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,170 | $126,843 | 0.92% | C |
| 2BR | $1,480 | $226,041 | 0.65% | D |
| 3BR | $1,780 | $266,837 | 0.67% | D |
| 4BR | $1,950 | $317,104 | 0.61% | D |
| 5BR | $2,262 | $381,946 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 14617 in Rochester, NY, is not predominantly a renter-heavy area. With only 14.7% of residents being renters, it suggests that homeownership dominates the housing market. However, the presence of a Section 8 tenant pool can still be significant given the size of the population at 21,788.
The median household income in this ZIP is $90,192, which contrasts sharply with the typical market rent of $1,689. This implies that rent consumes approximately 21.7% of the median income, calculated as ($1,689 / $90,192) * 100%. While this percentage is not excessively high, it does indicate that a substantial portion of income is allocated towards housing costs, potentially limiting disposable income for other necessities.
Comparatively, the Fair Market Rent (FMR) for ZIP 14617 is set at $1,300 for FY 2024. This means that the actual market rent of $1,689 exceeds the FMR by about 30%, suggesting that landlords who accept Section 8 vouchers might face a challenge in covering their costs fully without additional subsidies or higher rents outside of the voucher program.
In terms of tenant profiles, landlords in ZIP 14617 should expect a mix of low-income families who qualify for Section 8 assistance due to the income disparity between the median income and the FMR. These tenants will likely require a voucher to afford the local rental rates. The voucher demand is expected to be moderate rather than deep, considering the relatively low proportion of renters in the area.
To summarize, while ZIP 14617 is not heavily dominated by renters, there is a notable presence of Section 8 tenants. Landlords should prepare for tenants who need financial assistance to cover the cost of living in an area where market rents significantly outpace the government's fair 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.