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)
ZIP 84038, located in Rich County, UT metro, presents a unique opportunity for inclusion in a Section 8 portfolio strategy. Given the specific metrics available, this area is best suited as a cash-flow anchor.
The Fair Market Rent (FMR) for the Rich County, UT metro area in fiscal year 2026 is set at $1,130. This figure represents the maximum amount that a Section 8 tenant can pay towards their monthly housing costs. In ZIP 84038, where the median home value stands at $750,038, the rental market dynamics suggest a stable and predictable cash flow source.
The high median home value indicates a relatively affluent neighborhood, which is often associated with lower vacancy rates and higher demand for rental properties. However, the N/A for the market rent suggests that there isn't sufficient data to compare against the FMR, making it difficult to assess the exact spread. Despite this, the significant median home value implies that the rental market could be robust enough to support properties rented at or near the FMR, providing a reliable income stream for landlords.
Additionally, with only 1.7% of the population being renters, the demand for rental units is limited, further emphasizing the importance of securing tenants who can provide consistent payments. The median income of $95,714 supports the notion that residents have the financial stability to afford higher rents, which aligns well with the FMR for the area.
In conclusion, ZIP 84038 serves as a strong cash-flow anchor due to the combination of a defined FMR, a potentially robust rental market supported by high median incomes, and a low overall renter share. Landlords and small-portfolio investors should focus on properties that can be rented out at or near the $1,130 FMR to ensure steady and predictable returns.
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.