Location: Summit County, UT | Metro: Summit County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,600 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,670 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
U.S. Census Bureau data (2024)
ZIP code 84024, located within Summit County, UT, has a Fair Market Rent (FMR) of $1,630 for fiscal year 2026. This figure represents the average rental cost for a property in the area and is an important metric for landlords and investors considering the Section 8 program.
The FMR of $1,630 places ZIP 84024 squarely within the range of typical Summit County, UT ZIP codes, which generally have FMRs between $1,500 and $1,700. The absence of specific market rent and home value data suggests that 84024 might be a less developed or smaller neighborhood within the county, where such detailed metrics are not as readily available. However, the high renter share of 68.4% indicates a significant portion of residents who rely on rental housing, which is notably higher than the average renter share across other ZIP codes in Summit County.
This high renter share combined with the availability of FMR data but lack of market rent and home value specifics can be indicative of a value pocket within the larger Summit County, UT metro. Value pockets are areas where rental properties are relatively affordable compared to surrounding neighborhoods, making them attractive for both tenants seeking subsidized housing through programs like Section 8 and landlords looking to offer competitive rates.
The following points summarize the position of ZIP 84024 within the Summit County, UT metro:
In conclusion, ZIP 84024 stands out as a potentially valuable investment opportunity within the Summit County, UT metro, particularly for those interested in the Section 8 program. Its characteristics align well with the needs of subsidized housing tenants, making it a sweet spot for landlords willing to participate in the program.
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.