Location: Utica-Rome, NY | Metro: Utica-Rome, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
ZIP code 13352, located within the Utica-Rome, NY MSA, presents unique characteristics compared to the typical ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 13352 is set at $940 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it reflects the maximum rental amount that can be charged under the HUD's Section 8 program.
However, the market rent and home value data for ZIP 13352 are currently unavailable, which makes direct comparisons challenging. Nonetheless, the 0.0% renter share indicates that very few properties in this area are rented out. This low percentage suggests that ZIP 13352 might lean towards being a premium sub-market where homeownership is the dominant form of housing tenure.
In contrast, typical ZIP codes within the Utica-Rome, NY MSA generally have higher renter shares and more comprehensive data on market rents and home values. A high renter share combined with lower-than-metro average home values typically signifies an attractive area for Section 8 participants and investors focusing on affordable housing. However, given the lack of data on market rents and home values for ZIP 13352, we cannot definitively categorize it as such.
The FMR of $940 in ZIP 13352 should be considered in light of the broader market conditions in the Utica-Rome, NY MSA. If the FMR is significantly higher than the typical market rents in other ZIP codes within the MSA, then 13352 could be seen as a premium sub-market. Conversely, if the FMR is closer to the average market rents but still lacks substantial rental activity, it might indicate a niche or value pocket for certain types of investments, particularly those aligned with the preferences of homeowners rather than renters.
To make a more informed decision, further investigation into the broader economic and demographic trends within ZIP 13352 is recommended. Specifically, understanding why there is a low renter share despite the presence of FMR data will help in determining the true nature of this ZIP code within the context of the Utica-Rome, NY MSA.
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.