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 | $860 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $483,836 | 0.27% | F |
U.S. Census Bureau data (2024)
The ZIP code 13472 presents a unique market scenario, particularly concerning rental properties under the Section 8 program. The Fair Market Rent (FMR) for the area is set at $910 for fiscal year 2024, indicating the government's benchmark for rental affordability in subsidized housing. However, the absence of current market rent data suggests a lack of recent activity or reporting in the rental sector, which could imply either a stable market or one that is less dynamic compared to others.
The median home value of $414,981 reflects the overall property valuation in the ZIP code but does not directly correlate with rental dynamics. This figure is crucial for understanding the equity position of homeowners and the potential capital appreciation of residential assets in the area.
A standout feature of this market is the reported 0.0% renter share, which is an anomaly and likely indicates a misreporting or a specialized housing situation. In typical markets, a low renter share can signal strong homeowner preference and potentially lower immediate rental demand. Yet, the absence of renters could also point towards long-term housing pressures, such as difficulty in finding affordable rental options, leading to higher rates of homeownership even among those who might otherwise prefer renting.
Without specific data on the price-cut share and days on market (DOM), it's challenging to definitively state whether supply outpaces demand or vice versa. However, the combination of a defined FMR and the absence of other key metrics suggests a market that is currently not experiencing significant fluctuations. It is steady, perhaps leaning towards a balanced state between supply and demand, but with limited insights into the rental market's health.
The dynamics of ZIP 13472 highlight the importance of understanding local nuances beyond broad national trends. For landlords and small-portfolio investors, this ZIP code represents a market where the focus should be on maintaining properties within the FMR guidelines while being mindful of the broader implications of a high homeowner preference rate. This scenario underscores the need for thorough local market research and adaptability to ensure investment success.
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.