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 |
|---|---|---|---|---|
| 3BR | $1,270 | $185,648 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 13406 stands out in XX County due to several unique characteristics. With only 486 residents, it has a very low population density, making it one of the smallest ZIP codes in the area. Only 5.0% of the residents are renters, indicating that homeownership is predominant in this community. The median income here is $102,692, which is relatively high compared to the national average. Additionally, the median home value is $172,423, suggesting that while homes are valuable, they are still affordable within the context of the local economy.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 13406 is set at $1,150 for the fiscal year 2024. This is slightly higher than the market rent of $1,050, as reported by the Census Bureau's American Community Survey (ACS). Landlords and small-portfolio investors should be aware that the discrepancy between the FMR and the market rent could impact their ability to attract tenants who rely on Section 8 vouchers. However, the higher FMR does provide some cushion against potential losses.
The data signature for ZIP 13406 reads as stable. The low percentage of renters and high median income indicate that the housing market is not heavily reliant on rental assistance programs. Furthermore, the modest difference between the FMR and market rent suggests that the rental environment is unlikely to undergo significant changes in the near future. For investors looking to enter a stable market with a strong economic foundation, ZIP 13406 presents a favorable opportunity.
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.