Location: Rich County, UT | Metro: Rich County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 84064 in Rich County, Utah reveals several key insights for landlords and small-portfolio investors.
The rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the area, set at $1,170 for fiscal year 2026, significantly exceeds the current market rent of $666 according to the Census ACS. This discrepancy suggests that landlords would struggle to charge rents high enough to cover costs aligned with the FMR, indicating a potential financial strain unless they can reduce expenses or increase occupancy rates.
Acquisition in this area is not affordable based on the available data. The median home value is listed as N/A, which could imply either an insufficient sample size or a lack of recent sales data. Similarly, the Days on Market (DOM) and the percentage of homes requiring price cuts are also marked as N/A. These missing values suggest a challenging environment for acquiring properties, likely due to low liquidity or limited inventory in the housing market.
Tenant demand is present but not robust. With a total population of 846 and 18.2% of residents being renters, the pool of potential tenants is relatively small. This means that landlords will have to compete for a limited number of renters, which might further depress rental prices and make it difficult to fill vacancies quickly.
In conclusion, ZIP code 84064 presents a challenging investment scenario for real estate focused on Section 8 tenancy. The rent math is unfavorable, acquisition is unaffordable due to missing critical data points, and tenant demand is constrained by a small population base. Landlords should proceed with caution and carefully consider these factors before investing in this area.
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.