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 | $1,140 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,600 | $213,580 | 0.75% | D |
| 3BR | $1,920 | $269,350 | 0.71% | D |
| 4BR | $2,110 | $309,524 | 0.68% | D |
| 5BR | $2,448 | $337,505 | 0.73% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 14624, Rochester, NY, presents a unique opportunity for both landlords and small-portfolio investors. With a median home value of $263,946, the area remains affordable compared to many other regions, attracting a diverse range of buyers and renters. The fact that 0% of listings have been reduced signals strong seller's confidence in maintaining prices, indicating a stable or slightly appreciating market.
The median days on market (DOM) at just 8 days suggests brisk sales activity, which can be attributed to low inventory levels or high buyer interest. This dynamic supports the notion that homes are selling quickly at or near their asking price, reinforcing the idea of pricing power in the hands of sellers. Landlords and investors should expect to see continued stability in home values, barring any significant economic shifts.
On the rental side, the Federal Market Rent (FMR) for ZIP 14624 in fiscal year 2024 is projected at $1,490, while the current market rent, as measured by Zillow's Rent Index (ZORI), stands at $1,758. This gap between government-assisted rents and market rents provides a cushion for landlords, allowing them to potentially increase rents without significantly deterring tenants. However, it also indicates that there is a segment of the market that may struggle to afford private rentals, suggesting a need for a mix of rental offerings to cater to different income brackets.
For long-term investors considering the appreciation thesis, the data points towards a modest growth scenario rather than explosive gains. The steady DOM and lack of listing reductions imply that the market is unlikely to experience rapid appreciation. Instead, investors should anticipate a slow and steady increase in property values, driven by gradual economic growth and inflationary pressures. This makes ZIP 14624 suitable for those looking for a stable investment with predictable returns, rather than a speculative play for quick capital gains.
In summary, the current metrics suggest that ZIP 14624 offers a balanced real estate market, where both homeowners and landlords maintain a degree of pricing power. The setup favors investors who are prepared for a long-term hold strategy, expecting moderate appreciation and consistent rental income, rather than short-term speculation.
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.