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 | $1,080 |
| 3 Bedrooms | $1,290 |
| 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 | $1,080 | $207,937 | 0.52% | F |
| 3BR | $1,290 | $269,872 | 0.48% | F |
| 4BR | $1,470 | $320,919 | 0.46% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 13438, which encompasses parts of Remsen, NY, reveals a significant gap between the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) and the actual market rent based on Census ACS data. For fiscal year 2024, the FMR is established at $950, whereas the average market rent stands at $814. This represents a difference of $136, or approximately 16.7%, where the FMR exceeds the market rent.
This scenario makes Remsen an attractive location for landlords and small-portfolio investors looking to capitalize on the yield play offered by Section 8 vouchers. The higher FMR allows property owners to charge more than the typical market rate, ensuring a stable and reliable income stream. With only 14.8% of residents renting, there is less competition for rental properties, making it easier to attract and retain voucher holders.
In Remsen, the median home value is $231,146, indicating that homeownership is relatively affordable compared to other areas. However, the median household income of $69,797 suggests that many residents might struggle to afford housing without assistance. The Section 8 program thus serves as a critical support mechanism, enabling those who qualify to secure housing at a rate that is higher than what they might otherwise find in the open market but still within reach due to the subsidy.
Landlords benefit from this arrangement because the guaranteed payment through the voucher system reduces the risk of vacancy and delinquency. The government pays a portion of the rent directly to the landlord, based on the voucher amount, ensuring timely and consistent payments. This financial stability is particularly valuable in a market where rents are generally lower than the FMR, as it can help cover maintenance costs and provide a steady return on investment.
Investors should note that while the FMR provides a higher rental rate than the market average, it also comes with certain obligations and regulations. Properties must meet HUD's housing quality standards, and there is a requirement to participate in the program for a specified period once accepted. Despite these conditions, the potential for a better yield makes Remsen a strategic investment location for those interested 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.