Location: Utica-Rome, NY | Metro: Utica-Rome, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The 2024 Fair Market Rent (FMR) for the Utica-Rome, NY MSA averages around $1,159 per month for a two-bedroom unit, according to HUD’s FY2025 standards. This places ZIP code 13123, with its FMR of $1010, firmly in the value pocket category within the Utica-Rome MSA. Landlords and small-portfolio investors operating in ZIP 13123 can expect rental rates that are significantly below the metro average, offering a competitive edge in terms of affordability.
The absence of renters in ZIP 13123, indicated by the 0.0% renter share, diverges from typical patterns seen in other ZIP codes within the MSA. While this suggests a predominantly owner-occupied community, it also implies a potentially untapped market for rental properties, particularly those that cater to the Section 8 program. The lower FMR in 13123 could attract tenants seeking affordable housing options under the Section 8 umbrella, making it a strategic location for investors looking to serve this demographic.
Without specific market rent and home value data for ZIP 13123, it is difficult to make direct comparisons to other ZIP codes within the MSA. However, the FMR data alone provides a strong indication that 13123 offers more affordable rental opportunities compared to the overall MSA average. This positioning can be advantageous for landlords aiming to offer cost-effective living spaces while still maintaining profitability within the constraints of the Section 8 program.
Data Sources: FMR data from HUD (2027). 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.