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 | $1,140 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,610 | $219,499 | 0.73% | D |
| 3BR | $1,920 | $295,553 | 0.65% | D |
| 4BR | $2,180 | $373,217 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 13403 in Marcy, NY, is primarily a homeowner-dominated area rather than a renter-heavy one. With only 20.3% of residents being renters, the demand for rental properties, including those utilizing Section 8 vouchers, is relatively low compared to areas with higher percentages of renters. This means that landlords in this ZIP might face competition from homeownership opportunities, which could limit the number of tenants seeking rental units.
The median household income in Marcy stands at $86,300, indicating a middle-class community. The typical market rent of $1,504 represents approximately 19.5% of the median household income when considering a monthly basis. This percentage suggests that while rent is a significant expense, it is still manageable for most households in the area, given their income levels.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD, which is $1,020 for FY 2024, highlights a discrepancy. The actual market rent exceeds the FMR by about $484, or 47.4%. This gap implies that landlords relying solely on Section 8 vouchers may struggle to cover their costs unless they can secure additional subsidies or have lower-than-average expenses. It also indicates that tenants with vouchers might find it challenging to afford typical market rents without supplementary income.
In this ZIP code, landlords should expect a tenant profile that is largely composed of individuals and families who either have incomes close to or slightly above the median, or those who are willing to supplement their voucher amounts to meet the higher market rates. Tenants will likely be seeking affordable housing options and may prioritize properties that offer amenities or locations that justify the higher rent compared to the FMR. Landlords must consider these factors when setting rents and preparing their properties for the local market.
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.