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 | $930 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $274,762 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 13322 stands out in XX County due to its unique demographic and economic characteristics. With a population of 1,172 residents, it has a relatively low rental rate of 16.3%, indicating that most of the residents prefer homeownership. The median income in this ZIP is $91,369, which is higher than the national average, suggesting a financially stable community. Additionally, the median home value is $229,118, reflecting the affordability and desirability of owning property in this area.
When it comes to the voucher economics, the Fair Market Rent (FMR) for ZIP 13322 in fiscal year 2024 is set at $1,030. This is significantly lower than the market rent, which is recorded at $1,595 according to the Census ACS. Landlords and small-portfolio investors should take note of this discrepancy, as it can affect their decision-making regarding accepting Section 8 vouchers. The difference between the FMR and the market rent means that landlords could potentially face a shortfall if they rely solely on voucher payments to cover the cost of maintaining properties at market rates.
Based on the available data, the ZIP code 13322 presents a stable environment for real estate investment. However, the dynamics between the FMR and market rent suggest a transitional phase where landlords might need to balance the benefits of long-term tenants with the financial realities of maintaining rental properties. This requires careful consideration of both the local housing market trends and the potential impact of Section 8 vouchers on cash flow and property management costs.
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.