Location: Fulton County, 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $232,577 | 0.46% | F |
| 3BR | $1,270 | $255,413 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 13470, located in Stratford, NY, presents an interesting scenario for real-estate investment, particularly under the lens of Section 8 housing. With a Fair Market Rent (FMR) of $910 for fiscal year 2024, compared to the local market rent of $844, there's a notable premium for landlords willing to participate in the Section 8 program. This premium translates into higher yields, as the government subsidy can effectively increase rental income above the market rate.
However, the stability of this area must also be considered. The median home value in ZIP 13470 is $209,170, which is relatively modest. Renters make up only 15.0% of the population, indicating that the majority of residents prefer homeownership, which could lead to a smaller pool of potential tenants. Additionally, the median household income is $75,313, which suggests that while there is demand for affordable housing, the economic base is not highly dependent on low-income households.
The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties are rented out. However, given the lower percentage of renters and the modest income levels, the market is likely to be less volatile but also less liquid. This means that while the risk of vacancy might be slightly higher due to fewer renters, the overall stability of the area is not severely compromised.
In conclusion, ZIP 13470 leans towards being a steady-cashflow zone. The higher FMR compared to the market rent provides a solid yield, making it attractive for landlords. However, the limited number of renters and modest income levels suggest a need for patience in finding and retaining tenants. The investment here should be seen as a long-term strategy rather than a short-term, high-risk, high-reward venture.
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.