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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $209,001 | 0.51% | F |
| 3BR | $1,270 | $232,382 | 0.55% | F |
| 4BR | $1,470 | $252,789 | 0.58% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 13416, Newport, NY, within Herkimer County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for FY 2024 is $910. However, the local market rent for a similar unit, according to Census ACS data, averages at $779.
A landlord might wonder how much they can expect to receive from a voucher. Here's the breakdown: the voucher covers the difference between the tenant's portion and the total rent. Typically, the tenant is responsible for paying approximately 30% of their income towards rent. For ZIP 13416, the SAFMR sets the maximum allowable rent at $910. If the tenant's portion is $273 (assuming a 30% contribution), the voucher would cover the remaining $637.
In addition to the base rent, utility allowances must be factored in. Utility allowances vary but generally, for a two-bedroom unit, it can range around $200-$300 per month. This allowance is meant to help cover electricity, gas, water, and sewer costs. Thus, if we take an average utility allowance of $250, the total reimbursement a landlord could receive from the voucher program would be $887 ($637 base rent + $250 utilities).
This means that at the SAFMR rate of $910, there is a potential reimbursement gap of $23. Landlords should note that the reimbursement gap or surplus depends on the actual rent charged and the utility allowances. If you charge below the SAFMR rate, say at the local market rent of $779, the reimbursement would likely cover the entire rent plus utilities, potentially leaving a surplus.
To summarize, in ZIP 13416, the SAFMR for a two-bedroom apartment is set at $910, which is higher than the local market rent of $779. A typical voucher reimbursement, including utility allowances, would be around $887, creating a small gap or surplus based on the actual rent charged. Landlords should carefully consider these figures when deciding whether to participate in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.