Location: Box Elder County, UT | Metro: Tooele County, UT HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $517,583 | 0.29% | F |
U.S. Census Bureau data (2024)
In ZIP code 84029, the Section 8 program operates under the Single Area Fair Market Rent (SAFMR) for a two-bedroom apartment, which is set at $1010 for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, reflecting the unique economic conditions here. The local market rent for a two-bedroom unit, according to Census ACS data, averages $1,166, indicating a slight premium over the SAFMR.
The SAFMR of $1010 represents the maximum amount that the housing authority will pay on behalf of a tenant. However, this does not mean that landlords will receive the full $1010 every month. Instead, the actual reimbursement depends on the tenant's contribution and any applicable utility allowances.
Tenants are required to contribute 30% of their adjusted income towards rent. If a tenant's monthly income is $1,000, their contribution would be $300. The housing authority would then cover the remaining portion up to the SAFMR, which in this case would be $710. Additionally, there might be utility allowances that can vary based on the tenant's needs and the housing authority's policies. For example, if the utility allowance is $150, the total reimbursement to the landlord could be $860 ($710 for rent plus $150 for utilities).
To illustrate further, let's break down the reimbursement process:
Given these factors, the typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 84029 can be calculated. With a local market rent of $1,166 and an average reimbursement of $860, landlords would face a shortfall of $306 per month. This shortfall must be absorbed by the landlord unless they can negotiate a higher voucher payment, which is rare due to the strict guidelines of the Section 8 program.
Therefore, landlords should be aware that participating in Section 8 for a two-bedroom unit in ZIP 84029 will likely result in a monthly reimbursement of approximately $860, leaving a gap of $306 compared to the local market rent. This economic reality underscores the importance of understanding the financial implications before enrolling properties in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.