Location: Utica-Rome, NY | Metro: Utica-Rome, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 13162 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1020. This figure represents the maximum amount that the housing authority will pay towards the rent of a two-bedroom unit under the Section 8 program. However, it's important to note that the local market rent for this area is currently unavailable, which makes it difficult to compare directly against the SAFMR.
When a tenant uses a Section 8 voucher, they are responsible for paying a portion of the rent themselves, typically around 30% of their income. The voucher then covers the difference between the tenant’s contribution and the SAFMR, up to the limit of $1020. Additionally, there are utility allowances that can be factored into the total reimbursement, but these vary based on the specific voucher and the number of bedrooms in the unit. For a two-bedroom unit, the utility allowance might be around $200, though this is subject to change and should be confirmed with the local housing authority.
To illustrate, if a landlord charges $1020 for a two-bedroom apartment, and the tenant's portion is $300 (including utilities), the housing authority would reimburse the landlord the remaining $720. If the landlord charges more than $1020, the tenant must pay the additional amount out-of-pocket, beyond their 30% contribution and utility allowance.
The typical reimbursement gap or surplus in ZIP 13162 for a two-bedroom voucher is determined by comparing the SAFMR to the actual market rent. Since the local market rent is not available, we cannot calculate the exact gap or surplus. However, if the market rent were lower than $1020, landlords would receive the full SAFMR amount, resulting in a surplus. Conversely, if the market rent exceeds $1020, landlords would face a reimbursement gap, where the housing authority only pays up to $1020, and the rest must be covered by the tenant.
In conclusion, landlords in ZIP 13162 can expect a fixed reimbursement of $1020 for a two-bedroom apartment, with the tenant contributing their share and any applicable utility allowances. The actual financial impact—whether it's a surplus or a gap—depends on the local market rent, which needs to be assessed independently.
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.