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 HUD Fair Market Rent (FMR) for ZIP code 14652 in FY 2024 is set at $1,340. This figure represents the maximum amount that a Section 8 voucher holder can pay toward their housing costs. However, the available market rents for single-family homes in nearby areas suggest that landlords in 14652 will face significant challenges in achieving positive cash flow with voucher tenants. For instance, a three-bedroom house for rent in ZIP code 14612, which is adjacent to 14652, lists at $2,350 per month, while a five-bedroom property in ZIP code 14620 is priced at $3,250 monthly. These examples indicate that market rents in the vicinity of 14652 are considerably higher than the HUD FMR.
Voucher tenants in 14652 will only cashflow in premium units that are significantly below the market rate, making it challenging for landlords to attract these tenants. Given the high market rents compared to the FMR, it's unlikely that landlords will find many opportunities for positive cash flow unless they have properties that are either smaller or less expensive than average.
The median home value in the area is not specified, but based on the high market rents, we can infer that the rent-to-price ratio might be favorable for homeowners rather than renters. This suggests that buying a home in this area could be more economical than renting, especially when considering long-term financial benefits.
The strongest investment angle for Section 8 landlords in ZIP code 14652 is likely to be stability. While cash flow may be limited, the consistent income provided by government-backed vouchers can offer a reliable stream of rental payments, making it a safer bet in a volatile market.
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.