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 | $910 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $331,799 | 0.44% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 13494 presents a unique opportunity for landlords and small-portfolio investors, anchored by a median home value of $279,497. This figure suggests a relatively affordable market where demand could be sustained or even grow, particularly if compared to more expensive regions. The fact that the percentage of listings reduced is not available indicates stability in the market; there is no significant downward pressure on home values, which is often seen when a large number of properties are being discounted.
The median days on market (DOM) also being unavailable points towards a brisk sales pace, implying strong buyer interest. In such an environment, landlords and investors can expect to maintain or potentially increase their rental income. The Fair Market Rent (FMR) for ZIP 13494 for fiscal year 2024 is set at $1,030, providing a benchmark for rental rates. If the current market rent is below this figure, it signals an opportunity for upward adjustments, reflecting the balance between housing affordability and rental demand.
For long-term investors, the setup in ZIP 13494 supports a realistic appreciation thesis. Given the stable home values and brisk sales pace, coupled with a reasonable FMR, the conditions are favorable for gradual price increases over the next 12-24 months. However, the absence of specific historical data makes it challenging to project exact figures. Nonetheless, the combination of factors suggests that properties in this area will likely retain their value and see modest growth, aligning well with a buy-and-hold strategy.
A key consideration for investors is the alignment of rental prices with the FMR. As of now, the FMR stands at $1,030, which should guide decisions on rental pricing. This figure reflects the average rent paid by tenants in the area and is used to determine the maximum rental amount for subsidized housing programs. It provides a useful reference point for setting rents that are both competitive and reflective of the local economy.
In conclusion, ZIP 13494 offers a promising real estate investment scenario, characterized by stable home values and a favorable rental market. Landlords and small-portfolio investors can leverage these conditions to secure steady rental income and anticipate gradual property value appreciation. The absence of negative trends in listing reductions and DOM, alongside the defined FMR, supports a positive outlook for those looking to invest in this area.
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.