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 | $1,030 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $248,231 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 13469 stands out with a unique mix of demographic and economic factors that influence its rental market. With only 855 residents, this ZIP is relatively small, but it has a notable 14.8% of households renting their homes. The median income here is quite robust at $94,185, which contrasts sharply with the median home value of $239,844. This indicates a higher purchasing power among homeowners compared to renters.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 13469 in fiscal year 2024 is set at $990, significantly below the market rate of $1,163 based on Census ACS data. This discrepancy means that landlords accepting Section 8 vouchers in this area might face a slight financial disadvantage, as they would receive less rent than the market average. However, the stability of government-backed payments can be an attractive feature for some landlords.
The data signature for ZIP 13469 suggests a stable environment. Despite the low percentage of renters, the high median income and home values indicate a financially secure community. The gap between the FMR and the market rate for rentals implies a consistent demand for affordable housing options, making Section 8 vouchers a reliable choice for landlords who wish to serve this niche while maintaining steady cash flow. For small-portfolio investors, this ZIP presents a balanced opportunity where the risk of vacancy is mitigated by the stability of the local economy and the predictability of government assistance programs.
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.