Location: Summit County, UT | Metro: Summit County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,380 |
| 1 Bedroom | $2,440 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,720 |
| 4 Bedrooms | $4,630 |
| 5 Bedrooms | $5,371 |
| 6 Bedrooms | $6,016 |
| 7 Bedrooms | $6,497 |
| 8 Bedrooms | $6,822 |
U.S. Census Bureau data (2024)
8.5% of residents in ZIP code 84055 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $2,760, which represents the maximum allowable rent for a Section 8 voucher holder. In comparison, the market rent based on Census ACS data stands at $2,597, suggesting that the FMR aligns closely with actual market conditions. Landlords can expect to receive a payment standard that reflects current market rates, minimizing financial risk.
$715,707 is the median home value in the area, reflecting a relatively stable housing market. This stability can be further seen in the 0.1% price-cut share, indicating that very few properties are being discounted to attract buyers, thus maintaining overall property values. Additionally, the median income of $126,071 suggests that residents have the financial capacity to cover higher rents, making the area attractive for investment.
The absence of a specified day DOM (Days on Market) implies either a robust real estate market where properties sell quickly or an incomplete dataset, but the low price-cut share and high median income support the former. Given these factors, landlords and small-portfolio investors should find the ZIP 84055 area to be a solid investment opportunity with consistent returns.
Based on the data, the Section 8 program in ZIP 84055 offers a reliable source of income for landlords, with the FMR closely matching market rents and a stable housing market. The program's payment standards ensure that landlords are compensated fairly, making it a viable option for those looking to secure long-term tenancy without the risk of non-payment. However, the limited number of renters (8.5%) might restrict the pool of potential tenants. Overall, participation in the Section 8 program in this ZIP code is recommended for its financial security and alignment with market conditions.
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.