Location: Summit County, UT | Metro: Summit County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,850 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,890 |
| 4 Bedrooms | $3,590 |
| 5 Bedrooms | $4,164 |
| 6 Bedrooms | $4,664 |
| 7 Bedrooms | $5,037 |
| 8 Bedrooms | $5,289 |
The analysis for Section 8 properties in ZIP code 84068 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent, which is currently unavailable. The FMR for the metro area for fiscal year 2026 is set at $2,190. This figure represents the maximum amount that HUD will pay landlords through the Section 8 program. However, without specific market rent data, it's impossible to calculate the exact dollar and percentage gap.
In the context of Unknown, UT, where detailed demographic information such as the percentage of renters, median home value, and median income is not available, landlords must consider the implications of the FMR on their investment strategy. If the FMR exceeds the market rent, landlords can leverage this situation to generate higher yields from Section 8 properties compared to the open market. The guaranteed rental income from the voucher program ensures steady cash flow, making these properties attractive despite potentially lower rents.
Conversely, if the market rent surpasses the FMR, landlords face a different challenge. They must decide whether to accept the lower payment from the Section 8 program or risk vacancies by setting rents above what voucher holders can afford. This scenario highlights the financial burden of housing voucher tenants below open-market rates, potentially leading to reduced profitability for landlords.
To make informed decisions, landlords should monitor local real estate trends and the availability of market rent data for ZIP 84068. Understanding the relationship between FMR and market rent is crucial for optimizing property investments and managing expectations regarding returns.
Data Sources: FMR data from HUD (2027).
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.