Utica-Rome, NY
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.37×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs New York
- 2.92×-0.54
- vs U.S.
- 3.43×-1.06
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
20.4%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs New York
- 23.7%-3.3
- vs U.S.
- 23.3%-2.9
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.59%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs New York
- 5.04%+0.56
- vs U.S.
- 4.35%+1.25
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.07%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs New York
- -0.11%+0.04
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
0.97
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs New York
- 2.37
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
4.0%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs New York
- 3.9%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+58.7%
homeValues.yearOverYear
+7.1%
Median home value
$163,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $926 | $11,112 | 16.1% |
| 2 BR | $1,172 | $14,064 | 20.4% |
| 3 BR | $1,405 | $16,860 | 24.5% |
Labor market direction
Unemployment
4.0%
Median household income
$68,830
What's being built
Total TTM
284
+30.2% YoY
Single-family
193
2–4 unit
4
5+ unit
87
All 2 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Oneida County | 231,055 | $171,100 | $68,819 | 249 | +37.6% |
| Herkimer County | 60,293 | $135,000 | $68,858 | 35 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Utica | 291,348 | $68,830 | 2.37× | 5.59% | +58.7% | 0.97 | 4.0% |
| Duluth, MN-WI | 291,491 | $71,067 | — | — | +56.4% | — | 4.9% |
| Longview, TX | 287,359 | $65,210 | — | — | +54.1% | — | 4.2% |
| Merced, CA | 282,290 | $65,044 | — | — | +42.5% | — | 9.6% |
| Wilmington, NC | 289,726 | $73,687 | — | — | +70.7% | — | 3.4% |
| Evansville, IN-KY | 313,961 | $67,671 | — | — | +46.5% | — | 2.6% |
Where people are moving in from
Net migration
-197
-0.07% of population
| Origin county | Tax returns |
|---|---|
| Oneida County, NY | 455 |
| Herkimer County, NY | 437 |
| Madison County, NY | 418 |
| Onondaga County, NY | 242 |
| Otsego County, NY | 116 |
| Montgomery County, NY | 82 |
Who lives in Utica
- Median age
- 42
- Bachelor's+
- 26.7%
- Owner-occupancy
- 69.5%
- Vacancy rate
- 13.0%
- Rent burdened (30%+)
- 41.2%
- Median household income
- $68,830
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.