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 | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $200,383 | 0.62% | D |
| 3BR | $1,480 | $253,257 | 0.58% | F |
| 4BR | $1,680 | $371,897 | 0.45% | F |
| 5BR | $1,949 | $383,751 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP 13492, located in Whitesboro, NY, within the Utica-Rome, NY MSA, serves as a strong cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for a one-bedroom unit in this ZIP code for fiscal year 2024 is set at $1020. This figure stands above the current market rent of $962, providing a positive spread that ensures consistent cash flow for landlords and small-portfolio investors. Despite the higher FMR, the median home value in ZIP 13492 is relatively low at $257,892, making it an attractive area for investment without the burden of high property costs.
The primary reason ZIP 13492 acts as a cash-flow anchor is the guaranteed income from the Section 8 program. Landlords receive a fixed payment from the government, which covers the difference between what a tenant pays (based on their income) and the FMR. In ZIP 13492, this means landlords can rely on receiving at least $1020 per month for a one-bedroom unit, ensuring steady cash flow even if market rents fluctuate. This predictability is crucial for financial planning and stability, especially in areas where economic conditions might be less favorable.
While ZIP 13492 does not present significant opportunities for appreciation plays due to the lack of substantial growth in housing prices (as indicated by the N/A% price-cut share and N/A-day days on market), it still offers a solid foundation for a diversified portfolio. With a 24.9% renter share, there is a reasonable demand for rental properties, and the median income of $82,173 suggests that tenants are likely to have stable employment and be able to meet their rental obligations consistently. However, the focus here should remain on the cash-flow benefits rather than potential appreciation, given the limited data indicating future growth in property values.
In summary, ZIP 13492 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The positive spread between the FMR and market rent, combined with the lower median home value, makes it a reliable choice for generating steady income. Although it lacks significant potential for rapid appreciation, the combination of guaranteed government payments and stable tenant incomes ensures a secure and predictable investment environment.
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.