Location: Utica-Rome, NY | Metro: Utica-Rome, 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 | $860 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $183,582 | 0.66% | D |
| 3BR | $1,450 | $232,188 | 0.62% | D |
| 4BR | $1,650 | $256,719 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 13054, encompassing Durhamville, NY, presents a market characterized by a blend of affordability and stability. The Fair Market Rent (FMR) for the area stands at $1010 for fiscal year 2024, indicating that rental properties priced around this figure align well with federal guidelines. In contrast, the Census American Community Survey (ACS) reports a market rent of $595, suggesting that actual rents are significantly below the FMR. This discrepancy can be interpreted as an indication of either a highly competitive market or a region where rental properties are undervalued.
The median home value in the area is $216,518, which provides insight into the overall housing market. Given the absence of specific data on price-cut share and days on market (DOM), we must infer the dynamics based on the available snapshot. The lower market rent compared to the FMR suggests that there may be an excess supply of rental units, leading to downward pressure on prices. However, without time-series data, it's impossible to definitively state whether supply currently outpaces demand or vice versa.
A key metric to consider is the 11.2% renter share. This relatively low percentage implies that the majority of residents in Durhamville own their homes. Such a trend could suggest a stable community with long-term residents, but it also indicates potential long-term housing pressure if the demand for rentals increases. As the population grows or changes, the need for rental properties might rise, putting upward pressure on both rental rates and the proportion of renters in the community.
To summarize, Durhamville's real estate market appears to be in a state of flux, with rental prices below federal guidelines and a predominantly homeowner population. Landlords and small-portfolio investors should closely monitor local economic indicators and demographic trends to understand how these dynamics will evolve over time. The current snapshot suggests a balanced market, but the underlying factors hint at potential shifts in the future.
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.