Section 8 Fair Market Rent (FMR) for ZIP 14642 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 14642 is located in the city of Rochester, New York. Specific figures for population, percentage of renters, median income, and median home value are currently unavailable for this particular area. However, we can infer some characteristics based on the surrounding areas and general trends.

Rochester city has a median household income of $47,213, while Monroe County, which encompasses 14642, has a median household income of $76,382. This suggests that the income levels in 14642 might be lower than the county average but higher than the city average. The lack of high-income households in 14642, as indicated by the -1% figure, further supports this inference.

Moving to the economic landscape of renting, the Fair Market Rent (FMR) for ZIP code 14642 is set at $1,340 for fiscal year 2024. This figure represents the amount that a landlord can charge for a unit to be eligible for Section 8 vouchers. Unfortunately, specific market rent figures for 14642 are not provided, making it difficult to compare the FMR with the actual rental rates in the area.

Given the limited data, 14642 appears to be more suited for a hands-off voucher operator rather than a hands-on value-add buyer. The lower income levels suggest that tenants are likely to be more price-sensitive and reliant on government assistance programs such as Section 8. Therefore, maintaining units to meet the requirements for Section 8 eligibility would be the primary focus for landlords and small-portfolio investors in this area.

Data Sources: FMR data from HUD (2027).

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.