Location: White Pine County, NV | Metro: Provo-Orem-Lehi, UT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
U.S. Census Bureau data (2024)
The ZIP code 84034 presents an interesting scenario for both renters and landlords. Given the median income data is currently unavailable, it's challenging to make a direct comparison between household earnings and the ability to cover the market rate rent, which is also listed as N/A. However, we can analyze the situation based on the available information.
The Fair Market Rent (FMR) for ZIP 84034 as of fiscal year 2024 is set at $1050. This figure represents the amount that a household receiving a housing voucher would be expected to pay towards rent. In a context where 52.1% of the 144-person population are renters, this suggests a significant portion of the community relies on affordable housing options.
The affordability gap becomes evident when comparing the FMR to the unknown market rate. If the market rate is higher than $1050, many households may struggle to find suitable rental properties without assistance. This could lead to increased competition among landlords who accept vouchers, as these units become more attractive to tenants. Conversely, landlords who rely solely on market-rate rents might face a smaller pool of potential tenants willing or able to pay those rates.
For landlords considering their strategy regarding voucher acceptance versus cash-paying tenants, the decision hinges on understanding the local rental market dynamics. Accepting vouchers ensures a steady stream of rental income, albeit at a fixed rate, and helps fill vacancies in a competitive environment. On the other hand, cash-paying tenants offer the possibility of higher rental income, but the challenge lies in attracting them in a potentially tight budgetary climate for renters.
The takeaway for landlords is clear: understanding the local tenant needs and the availability of alternative housing options is crucial. In ZIP 84034, where the majority of residents are renters, being flexible with voucher acceptance can be a strategic advantage in securing a reliable tenant base. However, it's equally important to keep an eye on market trends and adjust strategies accordingly to maximize profitability while maintaining occupancy.
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.