Location: Rich County, UT | Metro: Rich County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 84028 offers a straightforward opportunity for landlords and small-portfolio investors looking to enter the market. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,130. This figure represents the payment standard, which is the amount the government will pay towards your tenant's rent. It does not dictate the total rent you can charge; rather, it ensures a baseline subsidy.
To understand the potential of this market, compare the FMR to the median rent in the area, which is currently unavailable. However, the 22.2% share of renters in ZIP 84028 indicates a strong demand for affordable housing. With a significant portion of the population renting, there is ample opportunity for properties to be filled by tenants who qualify for Section 8 assistance.
Investing in a Section 8 property in this ZIP code could mean acquiring a home for around $612,021, based on recent real estate trends. This price point should be considered alongside the long-term stability of having a guaranteed income stream from the government, especially if the property is well-maintained and meets the necessary standards.
A key factor to verify before proceeding with a Section 8 rental is the condition of the property. Ensure it complies with the Housing Quality Standards (HQS), which are mandatory requirements set by the U.S. Department of Housing and Urban Development (HUD). These standards cover safety, sanitation, and structural aspects of the property. By confirming that your investment meets these criteria, you can avoid costly repairs and delays in securing a tenant.
In summary, with an FMR of $1,130 and a substantial 22.2% of the population renting, ZIP 84028 presents a viable market for Section 8 rentals. A property costing approximately $612,021 can be a sound investment, given the steady income and demand for affordable housing. Before making your final decision, ensure the property meets HQS to guarantee a smooth process and compliance with HUD regulations.
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.