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 | $1,830 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,130 |
| 3 Bedrooms | $2,860 |
| 4 Bedrooms | $3,560 |
| 5 Bedrooms | $4,130 |
| 6 Bedrooms | $4,626 |
| 7 Bedrooms | $4,996 |
| 8 Bedrooms | $5,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,880 | $689,864 | 0.27% | F |
| 2BR | $2,130 | $1,318,895 | 0.16% | F |
| 3BR | $2,860 | $2,328,678 | 0.12% | F |
| 4BR | $3,560 | $3,811,001 | 0.09% | F |
| 5BR | $4,130 | $6,104,225 | 0.07% | F |
U.S. Census Bureau data (2024)
ZIP 84060, located in Park City, UT, is an ideal appreciation play within a Section 8 portfolio strategy. The area boasts a median home value of $2,183,137, which is significantly higher than the Fair Market Rent (FMR) for the Wasatch County metro area, set at $2,180 for fiscal year 2026. This suggests that while rental income may be lower compared to the property values, the potential for long-term capital gains is substantial.
The market rental rate for ZIP 84060 is $3,035, indicating that properties in this area can command premium rents outside of the Section 8 program. However, for those willing to participate in Section 8, the low price-cut share of 0.2% and a relatively quick 27-day Days on Market (DOM) demonstrate that the demand for affordable housing in this area is steady, even if slight adjustments in rent are necessary to attract tenants.
Additionally, the high median income of $128,295 in ZIP 84060 supports the notion that this is a desirable location for investment. While the renter share stands at 27.2%, this does not detract from the primary focus on appreciation. Landlords and small-portfolio investors should recognize that although the immediate cash flow might be constrained due to the FMR being below market rates ($2,180 vs. $3,035), the long-term growth potential in property value outweighs this initial drawback.
In conclusion, ZIP 84060 is best suited as an appreciation play in a Section 8 portfolio. Its high property values, strong local economy, and stable demand for affordable housing make it a strategic choice for investors looking to capitalize on future growth opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.