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 | $1,200 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $271,006 | 0.63% | D |
| 3BR | $2,050 | $375,905 | 0.55% | F |
| 4BR | $2,250 | $521,762 | 0.43% | F |
| 5BR | $2,610 | $718,603 | 0.36% | F |
U.S. Census Bureau data (2024)
The market in ZIP 14618, located in Rochester, NY, is characterized by a significant gap between the Fair Market Rent (FMR) and the actual market rent, known as ZORI. The FMR for the area stands at $1,600 for fiscal year 2024, while the ZORI indicates an average market rent of $2,900. This disparity suggests that the rental market is robust and likely under pressure due to demand exceeding supply. Landlords and small-portfolio investors should note that the higher market rents provide an opportunity to earn above the federally set fair market rates.
The median home value in ZIP 14618 is $396,283. While this figure alone doesn't indicate whether supply outpaces demand, it can be inferred that the high median home value combined with the elevated ZORI points towards a strong residential market. In such a scenario, homeownership might be less accessible for some residents, thereby increasing the reliance on rental properties. This dynamic supports the notion that demand for rentals could be high relative to supply.
The renter share in ZIP 14618 is 23.1%, which is notably lower than the national average but still substantial. A higher percentage of renters often signals persistent housing pressure, as these individuals may struggle to transition into homeownership due to financial constraints or other barriers. This situation can create a consistent demand for rental properties, making the rental market a stable investment option. However, it also means that there is a segment of the population that relies heavily on rental housing, which could lead to increased competition among landlords to attract tenants.
In summary, ZIP 14618 presents a market where demand appears to be driving up rental prices beyond the federal guidelines. The median home value and renter share suggest a mixed housing landscape with both homeowners and renters contributing to the local economy. For investors, the current dynamics point towards a potentially lucrative rental market, though it's important to remain vigilant about changes in the local economic conditions that could affect these trends.
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.