Location: Ogden, UT | Metro: Ogden, UT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,410 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,530 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
U.S. Census Bureau data (2024)
98.2% of residents in ZIP 84056 are renters, indicating a strong demand for rental properties in the area. This high percentage of renters underscores the potential profitability for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 84056, set at $1670 for fiscal year 2024, serves as a benchmark for what the government considers reasonable rent for a two-bedroom apartment. In comparison, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $1,780, slightly above the FMR but still within a reasonable range for most tenants given the median income of $69,352. Despite the robust rental market, the median home value is listed as N/A, suggesting that there may be limited data available on homeownership in the area, which could be due to the overwhelmingly rental-based housing market. Similarly, the days on market (DOM) and the percentage of homes that have had their prices cut are also listed as N/A, implying a lack of significant activity in the home sales market. For Section 8 investors, the alignment between the FMR and the market rent, coupled with the high renter share and median income, presents a favorable environment where rents can be set competitively while ensuring a steady stream of Section 8 vouchers can cover the costs. However, it is crucial to note that the specific details of the voucher program and local landlord participation requirements must be carefully reviewed. In conclusion, ZIP 84056 offers a solid opportunity for Section 8 investments, given the high tenant demand and the financial stability provided by the median income levels.
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.