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 | $232,753 | 0.46% | F |
| 3BR | $1,270 | $273,003 | 0.47% | F |
| 4BR | $1,470 | $301,070 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP code 13431, located in Poland, NY, presents a unique scenario when evaluated against the criteria of yield and stability for Section 8 real estate investments.
The Fair Market Rent (FMR) for the fiscal year 2024 is set at $990. This compares favorably to the local market rent of $768, indicating a potential yield advantage for landlords participating in the Section 8 program. The median home value in the area is $246,530, which is a significant figure to consider alongside the FMR and market rent values. Given that the FMR exceeds the market rent, this suggests a higher-than-average rental income for properties under the Section 8 umbrella, making it a relatively high-yield market.
However, stability is another critical factor. In ZIP 13431, only 14.7% of the population are renters, which is a low percentage. This indicates a predominantly owner-occupied area, reducing the pool of potential tenants and possibly affecting the demand for rental properties. Additionally, the median household income is $76,000, which could impact the ability of residents to afford higher rents, even if subsidized. The lack of data on days on market (DOM) further complicates the assessment of stability, as it would provide insight into how quickly rental units are typically filled in the area.
Based on these figures, ZIP 13431 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The higher FMR compared to market rent supports a solid cash flow for Section 8 properties, but the low percentage of renters and limited information on DOM suggest that the market might not be as volatile or conducive to quick property flips. The median income figure also implies that while there may be some financial strain on residents, the overall economic health of the area is stable enough to support long-term investment strategies.
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.