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 | $830 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $189,774 | 0.62% | D |
| 3BR | $1,390 | $217,665 | 0.64% | D |
| 4BR | $1,580 | $225,608 | 0.7% | D |
| 5BR | $1,833 | $227,533 | 0.81% | C |
U.S. Census Bureau data (2024)
ZIP 13501, located in Utica, NY, within the Utica-Rome, NY MSA, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 13501 in fiscal year 2024 is set at $910, significantly below the market rate of $1,350. This creates a spread of $440 per unit, ensuring a consistent and reliable cash flow for landlords and small-portfolio investors.
The median home value in ZIP 13501 stands at $204,822, which is relatively low compared to other areas. This means that the initial investment required to acquire properties in this area is also lower, making it easier to build a substantial rental portfolio without a significant capital outlay. Additionally, the low FMR ensures that rental income from Section 8 tenants is guaranteed, reducing the risk of vacancy and providing steady cash flow.
The 0.2% price-cut share and N/A-day days on market (DOM) indicate that the rental market in ZIP 13501 is stable and does not require frequent price adjustments or long periods of vacancy. These metrics support the idea that properties in this area can be rented out quickly and without significant discounts, further enhancing their value as cash-flow anchors.
While the renter share of 49.2% and median income of $52,548 might suggest some diversification benefits, these factors are secondary to the primary role of ZIP 13501 as a cash-flow anchor. The high proportion of renters indicates a strong demand for rental housing, and the median income supports the presence of a viable Section 8 tenant base. However, the key factor remains the significant spread between the FMR and market rates, which provides a solid foundation for predictable and consistent cash flow.
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.