Location: Utica-Rome, NY | Metro: Syracuse, 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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $170,015 | 0.74% | D |
| 3BR | $1,530 | $220,014 | 0.7% | D |
| 4BR | $1,670 | $265,541 | 0.63% | D |
| 5BR | $1,937 | $312,976 | 0.62% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 13421, which includes Oneida, NY, stands at $65,752. This figure places significant constraints on the financial capabilities of households seeking rental accommodation. The current market rate for rent, according to the Census ACS, is $904 per month. Given the median income, a household would allocate nearly 17% of their annual income to cover this market rate alone, without considering other living expenses.
In contrast, the Fair Market Rent (FMR) standard set for ZIP 13421 in fiscal year 2024 is $1000. This means that while market rates are slightly below the FMR, landlords who accept vouchers are still operating closer to the higher end of affordability for local residents. With 33.8% of the population renting and a total population of 12,771, the demand for affordable housing is evident, but the supply must align with what residents can pay.
The affordability gap in Oneida highlights a competitive landscape for landlords. Those offering rents closer to the $904 market rate may find it easier to attract tenants willing to pay out-of-pocket, especially if they offer desirable amenities or locations. However, landlords who accept Section 8 vouchers will have access to a broader tenant pool, albeit with the challenge of lower rent payments compared to market rates.
Takeaway: Landlords in Oneida should consider the balance between voucher acceptance and cash-paying tenants carefully. While cash-paying tenants might offer slightly higher rent, the stability and security provided by voucher holders can be advantageous. Accepting vouchers ensures a steady stream of income and taps into a larger portion of the local rental market, mitigating risks associated with vacancy rates and tenant turnover.
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.