Section 8 Fair Market Rent (FMR) for ZIP 83244 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$920
1 Bedroom	$990
2 Bedrooms	$1,180
3 Bedrooms	$1,640
4 Bedrooms	$1,970
5 Bedrooms	$2,285
6 Bedrooms	$2,559
7 Bedrooms	$2,764
8 Bedrooms	$2,902

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

To determine if a landlord should invest in ZIP code 83244 for Section 8 properties, follow this decision tree based on the provided data:

1. Does the Fair Market Rent (FMR) of $1000 for the fiscal year 2024 cover the debt service on a potential property?

• Yes: If the FMR of $1000 is sufficient to cover the debt service, proceed to the next question.
• No: Do not purchase a property in this area for Section 8 purposes. The rental income will not be enough to sustain the financial obligations of owning the property.

2. How does the market rent compare to the FMR?

• Above FMR: If the market rent is higher than the FMR of $1000, it indicates that Section 8 properties may struggle to compete with the local rental market. This could lead to lower occupancy rates and reduced income.
• At or Below FMR: If the market rent is at or below the FMR, then Section 8 properties are likely to be competitive and attract tenants. Proceed to the third question.

3. Is there enough demand with 34.7% of residents being renters and an average of N/A days on the market (DOM)?

• N/A DOM is low: If the days on the market are low, indicating quick turnover of rental properties, there is strong demand for rentals in this area. With 34.7% of the population renting, there is ample tenant pool. The answer is yes, you should consider purchasing a property here for Section 8 purposes.
• N/A DOM is high: If the days on the market are high, suggesting slower rental activity, then even with 34.7% of residents being renters, the demand may not be robust enough to ensure consistent occupancy. The answer is it depends, as other factors such as location, property condition, and competition must be considered before making a decision.

Note: Specific values for market rent and DOM were not provided in the initial query. These figures are critical in making a final decision and should be obtained before proceeding further.

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.