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 | $950 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $190,808 | 0.69% | D |
| 3BR | $1,560 | $237,861 | 0.66% | D |
| 4BR | $1,770 | $288,114 | 0.61% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 13308, Blossvale, NY, presents a dynamic picture where the Federal Market Rent (FMR) at $1170 for fiscal year 2024 exceeds the current market rent of $933 based on Census ACS data. This suggests that there may be upward pressure on rents, indicating a potential scenario where demand could be catching up to supply. However, the absence of specific metrics such as the percentage of price cut share and days on market (DOM) limits a comprehensive assessment of the immediate supply-demand balance.
The median home value of $218,529 provides insight into the overall affordability and desirability of homeownership in the area. Given that Blossvale has an 18.2% renter share, it implies that nearly one-fifth of the population opts for rental housing over purchasing. This percentage can indicate sustained long-term housing pressure, as a significant portion of residents might find homeownership less attainable due to financial constraints or preference for renting.
In markets with a high renter share, landlords and small-portfolio investors can expect steady demand for rental properties, assuming economic conditions remain stable. The disparity between the FMR and market rent also signals an opportunity for landlords to potentially increase their rental rates, aligning closer with the FMR without significantly impacting occupancy levels.
Blossvale's real estate landscape is characterized by a blend of affordable homeownership and a notable rental sector. For investors, this means focusing on the fundamentals: maintaining quality rental units that meet the needs of renters and keeping a watchful eye on local economic indicators that could affect both rental and home purchase decisions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.