Section 8 Fair Market Rent (FMR) for ZIP 84063 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor looking into ZIP code 84063 might have several concerns regarding the feasibility of investing in rental properties here. Let's address these concerns directly with the available data.

• Will FMR $1,020 (metro FY 2026) cover the mortgage on a N/A home? The Fair Market Rent (FMR) of $1,020 in the fiscal year 2026 does not provide sufficient information to determine if it will cover the mortgage on a property in ZIP 84063. Without specific details on average home prices and prevailing mortgage rates in the area, it's impossible to calculate the exact monthly mortgage payment. However, if we consider typical mortgage rates and home values, an investor should ensure that the FMR is at least equal to or higher than the total monthly expenses including mortgage payments, maintenance, and taxes to achieve profitability.
• Is there enough renter demand at 12.7%? The renter demand represented by the 12.7% figure suggests that a significant portion of the population in ZIP 84063 relies on renting. This percentage indicates a notable presence of renters in the area, which can be a positive sign for rental investments. However, the data alone does not specify whether this demand is sufficient to support new rental units without considering vacancy rates, local employment trends, and the overall economic health of the region. A deeper analysis of these factors would be necessary to confirm the viability of the rental market.
• Will vouchers keep pace with N/A market rents? The availability and adequacy of housing vouchers to cover market rents in ZIP 84063 cannot be determined with the given information. Voucher programs often struggle to match rising market rents, especially in areas experiencing economic growth or increased demand. To assess this, an investor would need to look at historical data of voucher amounts and their correlation with actual market rents. Additionally, understanding the local administration's plans and funding for housing assistance could offer insights into future trends. As the data does not provide specifics on voucher amounts or market rent trends, caution is advised when relying solely on vouchers to sustain rental income.

The data provided gives us some insight but leaves gaps in addressing all investor concerns comprehensively. For a thorough evaluation, further research into local real estate costs, mortgage rates, tenant demographics, and government housing policies is essential.

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.