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 | $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 | $151,042 | 0.7% | D |
| 3BR | $1,270 | $181,160 | 0.7% | D |
| 4BR | $1,470 | $182,711 | 0.8% | C |
| 5BR | $1,705 | $244,247 | 0.7% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13365, which includes Little Falls, NY, is set at $910 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, meaning that voucher holders will be able to receive assistance up to this amount. However, it's important to note that this does not dictate the rent you should charge; it's simply the maximum subsidy the government will provide.
To put this into perspective, the average rent in the area, according to recent Census American Community Survey data, is $813. This suggests that the FMR is slightly higher than the typical market rate, which could work in your favor if you're looking to cover costs or earn a modest profit above the average.
The local rental market shows a strong demand, with 20.6% of residents being renters. This indicates that there are enough potential tenants interested in renting properties in Little Falls, making it a viable option for those considering their first Section 8 rental.
If you're thinking about acquiring a property in this area, you'll want to be aware that the median home value in ZIP 13365 is approximately $158,496. This figure can help you estimate the initial investment required for purchasing a property suitable for Section 8 tenants.
Before proceeding, one critical step is to verify that the property meets all HUD standards for quality and safety. This ensures compliance with Section 8 requirements and avoids potential delays or disqualification of your rental unit.
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.