Location: Duchesne County, UT | Metro: Duchesne County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The analysis of ZIP 84001, located in Duchesne County, UT, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, set at $1,130 for fiscal year 2026, is slightly below the current market rent of $1,167 according to Census ACS data. This indicates that landlords can expect to charge a rent that is marginally higher than the subsidized rate, potentially allowing for a modest profit margin when factoring in operational costs.
Regarding the affordability of property acquisition, the data presents some challenges. With a median home value listed as N/A, it's difficult to assess the typical cost of homes in the area. However, the average days on market (DOM) being N/A suggests that properties might sell relatively quickly once listed, indicating a stable local real estate market. The N/A% of homes experiencing price cuts implies that sellers are generally able to achieve their asking prices without significant reductions, which could make acquiring properties at a lower cost less likely.
The third question concerns tenant demand. ZIP 84001 has a population of 735, with 21.6% of residents being renters. This means approximately 159 individuals are seeking rental housing. While the number of potential tenants is relatively low, the percentage of renters indicates a steady demand for rental properties in the area.
In summary, the rent math in ZIP 84001 leans towards feasibility, given the slight discrepancy between the FMR and market rent rates. However, the lack of specific data on median home values and other acquisition metrics makes it challenging to gauge the overall cost-effectiveness of purchasing properties. Despite this, the presence of a consistent 21.6% renter share suggests that there is a reliable tenant base, supporting the viability of rental investments in the area. Landlords should proceed with caution, carefully considering the limited data available before making investment decisions.
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.