Location: Fulton County, 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 | $810 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $142,219 | 0.75% | D |
| 3BR | $1,270 | $168,968 | 0.75% | D |
| 4BR | $1,470 | $165,174 | 0.89% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering Dolgeville, NY (ZIP 13329) for their Section 8 portfolio might have several valid concerns. Let's address them head-on using the available data.
Will FMR $910 (zip FY 2024) cover the mortgage on a $143,877 home?
The Fair Market Rent (FMR) for ZIP 13329 is set at $910 per month for fiscal year 2024. To determine if this will sufficiently cover the mortgage, we must calculate the monthly payment based on typical financing terms. Assuming a 30-year fixed-rate mortgage at an average interest rate of 4%, the monthly payment on a $143,877 home would be approximately $694. This means that the FMR of $910 does indeed cover the mortgage payment, leaving a surplus of around $216 per month. However, it's important to note that this calculation does not account for property taxes, insurance, maintenance costs, or other expenses associated with owning a rental property.
Is there enough renter demand at 28.5%?
The percentage of households that are renters in Dolgeville, NY stands at 28.5%. While this figure is relatively low compared to urban areas, it still represents a significant portion of the local housing market. For a landlord or small-portfolio investor, this suggests that there is a moderate level of demand for rental properties. However, the data does not provide detailed insights into the specific demand for Section 8 properties. It's advisable to consult local real estate agents or housing authorities for more precise information on the number of families seeking Section 8 rentals in Dolgeville.
Will vouchers keep pace with $839 market rents?
The market rent for a two-bedroom apartment in Dolgeville, NY is currently $839. The FMR of $910 is designed to ensure that voucher holders can afford housing in the area. However, the actual value of vouchers can vary based on local housing authority policies and the specific needs of voucher recipients. While the FMR is higher than the market rent, which is positive, the data does not specify how frequently voucher amounts are adjusted to match market conditions. To get a clearer picture, an investor should contact the local housing authority to understand the process and frequency of voucher adjustments.
In summary, while the FMR of $910 does cover the mortgage on a $143,877 home, leaving room for other expenses, the renter demand at 28.5% indicates a moderate but not overwhelming need for rental units. The voucher system appears to be keeping pace with market rents, but the specifics of voucher adjustments are unclear from the provided data. These points should be considered carefully when deciding whether to invest in Dolgeville, NY.
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.