Section 8 Fair Market Rent (FMR) for ZIP 84002 - 2027
Location: Duchesne County, UT | Metro: Duchesne County, UT
FY 2027 Fair Market Rent Rates
| 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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$83,125
To determine if a landlord should invest in ZIP code 84002 for Section 8 properties, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1,130 cover the debt service on a property?
- If the FMR of $1,130 does not cover the debt service, the answer is No. There is no point in acquiring a property that cannot sustain itself financially.
- If the FMR of $1,130 does cover the debt service, proceed to the next question.
- 2) How does the market rent compare to the FMR?
- If the market rent is significantly below $1,130, the answer is No. The property would be underperforming compared to what it could receive from non-Section 8 tenants.
- If the market rent is around or slightly above $1,130, the answer is It Depends. This scenario suggests that while the property can meet its financial obligations, there might be better opportunities where market rents exceed the FMR more substantially.
- If the market rent is well above $1,130, the answer is Yes. In this case, the landlord can still achieve profitability even when renting to Section 8 tenants, given the potential to earn more from other types of tenants.
- 3) Is there sufficient demand for rental properties in the area?
- The ZIP code has a rental rate of 27.0%, indicating a moderate level of demand. However, the Days on Market (DOM) figure is missing, which is crucial for understanding how quickly properties are rented out. Without this information, the answer is It Depends.
- If the DOM is low, say under 30 days, then the answer shifts to Yes. A quick rental process means that even if the FMR is close to market rates, the landlord can expect steady occupancy.
- If the DOM is high, say over 60 days, the answer becomes No. High DOM suggests difficulty in finding tenants, making it riskier to rely on Section 8 to fill vacancies.
Investing in ZIP code 84002 for Section 8 properties requires careful consideration of the financials and local market conditions. Ensure the FMR covers your debt service, assess whether market rents offer a competitive advantage, and finally, gauge the demand for rentals based on the DOM. With these factors analyzed, you can make an informed decision.
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.