Updated 2026 · Based on median market data for Utica, NY
The median monthly rent in Utica, NY is $920, translating to $11,040 in annual gross rental income per unit. The rent-to-price ratio is 0.68% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Utica spend approximately 30% of the local median household income ($36,200) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Utica is 7%. This is above the national average and warrants careful tenant screening and marketing. Budget for longer vacancy periods between tenants and consider offering competitive amenities or pricing to reduce turnover. Population growth of -0.2% annually means demand is flat to declining — focus on properties in the strongest neighborhoods.
Utica's GRM (price divided by annual rent) is 12.2x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $920/mo, a single-family rental in Utica generates approximately $11,040 in gross annual income. After accounting for 7% vacancy ($773 lost), property taxes of $2,349, insurance (~$540), and maintenance (~$540), the estimated NOI is $6,838 per year, or $570/mo.