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)
The Fair Market Rent (FMR) for ZIP code 84033 is set at $1,630 for the fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the amount that the government will pay towards the rent on behalf of eligible tenants. It does not reflect the actual rent you can charge your tenants; it's the maximum subsidy amount.
To put this into perspective, the average rent for properties in ZIP 84033 is currently $955, according to the latest Census American Community Survey data. This means that the FMR is significantly higher than the average market rent, providing an opportunity for landlords to potentially increase their income through the voucher program without overcharging tenants.
The 16.1% share of renters in the area indicates a steady demand for rental housing. If you're planning to acquire a property in this ZIP code, the median home value is approximately $603,502. This suggests that purchasing a property for use as a rental unit under the Section 8 program could be a substantial investment, but the higher FMR compared to the average rent might help offset some of the costs associated with owning such a valuable asset.
Before proceeding with a Section 8 rental in ZIP 84033, ensure that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards cover a wide range of criteria to guarantee that the property is safe, decent, and sanitary for tenants.
In summary, the FMR of $1,630 is higher than the typical rent of $955, making Section 8 vouchers a viable option for landlords in ZIP 84033. With a 16.1% renter share and a median home value of $603,502, there is a consistent demand for rentals, and the financials can work in your favor if your property qualifies.
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.