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 | $1,180 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $233,457 | 0.64% | D |
| 3BR | $1,790 | $282,311 | 0.63% | D |
| 4BR | $1,960 | $324,019 | 0.6% | D |
| 5BR | $2,274 | $395,330 | 0.58% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 14626, located in Rochester, NY, within the Rochester, NY MSA, reveals several key insights for landlords and small-portfolio investors. First, let's examine if the rent math works. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1470, while the market rent, measured by the Zillow Observed Rental Index (ZORI), stands at $1487. This indicates that the FMR is slightly below the market rent, suggesting that landlords can potentially charge a bit higher than the FMR without significantly deterring tenants.
Moving on to the affordability of acquisitions, the median home value in ZIP 14626 is $277,585. With an average of only 8 days on the market (DOM) and a mere 0.1% of homes needing price cuts, it's evident that the housing market is relatively stable and quick-moving. This bodes well for potential investors looking to acquire properties quickly without having to engage in lengthy negotiations or substantial price reductions.
Regarding tenant demand, the area has a population of 29,273, with 32.1% being renters. This significant portion of the population indicates a steady pool of potential tenants, which is crucial for maintaining occupancy rates and ensuring consistent rental income.
In summary, ZIP 14626 offers a viable investment opportunity for landlords and small-portfolio investors. The rent math is favorable, with the market rent slightly exceeding the FMR, allowing for competitive pricing. Acquisitions are affordable and swift, thanks to the stable median home value and low price-cut share. Furthermore, the high renter share suggests robust tenant demand, supporting sustained rental income. These factors collectively point to a promising real estate market in Rochester, NY, for those willing to invest.
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.