Location: Wasatch County, UT | Metro: Summit County, UT
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,670 | $1,031,814 | 0.26% | F |
| 4BR | $3,150 | $1,391,740 | 0.23% | F |
| 5BR | $3,654 | $1,986,973 | 0.18% | F |
U.S. Census Bureau data (2024)
The ZIP code 84036 stands out within the county due to its unique demographic and economic characteristics. With a population of 9,241 residents, this area has a relatively low rental rate of 15.2%, indicating that the majority of the residents are homeowners. The median income of $120,769 is notably high, reflecting a prosperous community. Additionally, the median home value of $1,017,773 is exceptionally high, suggesting that this ZIP code is home to some of the most expensive properties in the region.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,630, while the market rent, measured by ZORI (Zillow Observed Rent Index), is significantly higher at $4,049. This disparity means that landlords in ZIP 84036 can expect to receive a subsidy that covers less than half of the typical market rent for their properties. Consequently, landlords must carefully consider the financial implications of accepting Section 8 vouchers, as they may need to charge additional rent to make up for the difference between the FMR and the ZORI.
The data signature for ZIP 84036 reads as stable, with high median income and home values suggesting a settled community. However, the low rental rate and the significant gap between FMR and market rents indicate that landlords should be cautious about relying solely on Section 8 subsidies. It is advisable to evaluate each tenant application individually to ensure financial stability and alignment with the property's value proposition.
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.