Location: Rochester, NY | Metro: Rochester, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
The analysis of ZIP code 14647 reveals several critical insights for landlords and small-portfolio investors considering investment in this area.
The rent math does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1340. However, without a comparison to actual market rents, it's impossible to determine if this figure reflects realistic expectations. Landlords should seek additional local data to make informed decisions on rental pricing.
Regarding acquisition affordability, the data is incomplete. The median home value, days on market (DOM), and the percentage of homes that required a price cut are all listed as N/A. This absence of information makes it challenging to assess the overall cost and feasibility of acquiring properties in this area. Investors should conduct thorough research to understand the current real estate market conditions in ZIP 14647.
Tenant demand in ZIP 14647 is also uncertain. The population and the percentage of renters are not specified, leaving gaps in understanding the potential pool of tenants. A higher renter share typically indicates stronger demand, but without these figures, the analysis is limited.
Verdict: Investment in ZIP 14647 is not advisable based on the available data. The lack of specific market rent figures, median home values, DOM, and price-cut percentages, along with unknown population and renter share, creates significant uncertainty. Landlords and small-portfolio investors should gather more detailed local information before making any investment decisions.
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.