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 | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $182,317 | 0.64% | D |
| 3BR | $1,390 | $228,584 | 0.61% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13157, which includes Sylvan Beach, NY, is set at $1140 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge a tenant participating in the Section 8 housing choice voucher program. It's important to note that this is not the rent you will receive; it's the payment standard used by the program.
In comparison, the average local rent for ZIP 13157 is around $1,000, according to recent Census Bureau American Community Survey (ACS) data. This indicates that the FMR is slightly higher than the typical market rate, potentially offering a small premium for landlords who participate in the program.
With a renter share of 34.6%, there is a significant portion of the population that relies on renting for their housing needs. This suggests a steady demand for rental properties in the area, including those that might be interested in Section 8 vouchers.
The median home value in Sylvan Beach is approximately $209,479. This figure gives an idea of the acquisition cost for a property in the area, which could be a consideration when deciding whether to invest in a Section 8 rental.
Before committing to a Section 8 rental, it is crucial to verify that your property meets all the required standards for habitability and safety. The Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD) must be satisfied, ensuring that the unit is in good condition and safe for occupancy.
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.