Location: Logan, UT | Metro: Logan, UT-ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 83228 is situated in a neighborhood that is predominantly owner-occupied, with only 7.3% of the 1,134 residents being renters. The median income in this area stands at $73,750, indicating a relatively affluent community. This is further underscored by the median home value, which is quite high at $465,615.
From an investment perspective, the Federal Market Rent (FMR) for ZIP 83228 in fiscal year 2024 is set at $1,090. In contrast, the market rent, as reported by the Census Bureau's American Community Survey (ACS), is $964. This means that landlords participating in the Section 8 program can receive a higher rent subsidy compared to the average market rate, effectively increasing their rental income.
Given these figures, ZIP 83228 appears to be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests limited demand for rental properties, making it challenging for active investors looking to manage multiple units. However, for those interested in passive income through the Section 8 program, the discrepancy between the FMR and the actual market rent provides a financial advantage. Landlords can benefit from the higher subsidy rates without the necessity of extensive property management or renovation efforts.
To summarize, ZIP 83228 offers a niche opportunity for Section 8 investors who prefer minimal involvement in property management. The financial benefits of higher subsidy rates can offset the challenges posed by a small rental market. For those considering a more hands-on approach, other areas with higher rental demand may present better opportunities.
Data Sources: FMR data from HUD (2027). 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.