Could you imagine yourself accepting a story that was largely realistic, was set in the modern day USA, had fairly grounded stakes (as in, no save-the-world plot), and made some attempt at social commentary, but also had a very small number of characters with fantasy-style powers? I ask that because I'm considering moving my current project in that direction, and I need to make a decision on this matter fairly quickly.
What kind of powers? Is there a reason why these characters have their powers? It sounds fine to me. Personally I prefer these scenarios as I sometimes find deep fantasy worlds difficult to get into.
As always, it only depends whether you can make it work. Write it well and nobody's gonna care cus they'll be too busy devouring the story In any case, the only question you need to ask is: is this right for my story? What does it achieve? Does it achieve what I want/need it to in order to tell the story? Does it clarify/simplify things or complicate things unnecessarily? If you think it's right for the story, then go for it. There'll always be readers out there who'll accept it just fine.
There are more chances for plot holes, because this is going to be the readers' world as well as yours. You won't have as much room for hand-waving certain impractical details like you can in a traditional fantasy setting. Factors that make plausibility a bit more challenging (for the most part, as sometimes they actually help rather than hinder) include: organised law enforcement, cellphones, cameras, expected attendance of school, lawsuits—all that jazz. That said, you've probably already got a handle on those elements. As long as nothing glaring happens, like lancing/fireballing the villain's henchman in Burger King with no repercussions, I will accept and read it just fine.
How much is the magic essential to the plot? In most urban fantasy magic or magical beings are the core of the story. If it is not in your story, some people might wonder why it's included at all. But so long as it plays a role in the overall plot, no matter how small, I don't see any problems.
It's a very small part of the world as a whole, but it plays a significant role in the main character's arc and the antagonist's actions.
In that case yes, I'll be interested. It might be refreshing to read an urban fantasy where the main character doesn't have to save the world but has realistic problems in an unrealistic world.
Upon further reflection, I think I'm going to go ahead and do this. I've kind of wanted to from the beginning. Thank you for your comments.
Gosh, it had better be acceptable. My second novel is set in Pittsburgh, PA, and rural eastern Ohio and hinges on witchcraft and cryptozoology. Yeah, @Adenosine Triphosphate, have at it.