Location: Ogden, UT | Metro: Ogden, UT MSA
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 | $1,700 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,280 |
| 3 Bedrooms | $3,050 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,280 | $495,263 | 0.46% | F |
| 3BR | $3,050 | $543,164 | 0.56% | F |
| 4BR | $3,650 | $587,917 | 0.62% | D |
| 5BR | $4,234 | $663,414 | 0.64% | D |
U.S. Census Bureau data (2024)
The dynamics of ZIP 84075, Syracuse, UT, reveal a market in motion, characterized by the interplay between rental and ownership sectors. The Fair Market Rent (FMR) for the area stands at $2030 for fiscal year 2024, while the actual market rent, measured by Zillow's ZORI, is higher at $2,491. This indicates that the rental market is slightly more robust than what federal guidelines suggest, possibly due to local economic conditions or demand.
The median home value in the area is $585,942, reflecting a substantial investment for homeowners. However, the low 0.3% price-cut share suggests that sellers are not feeling significant pressure to reduce their asking prices, indicating a relatively stable or even slightly bullish market for home sales. The days on market (DOM) average of 26 days further supports this, showing that homes are selling quickly, likely before multiple offers can drive down prices.
The 10.3% renter share highlights an important aspect of the housing landscape in Syracuse, UT. While this percentage might seem low compared to urban centers, it still points towards a segment of the population facing housing pressures that make renting a more viable option. Over the long term, this could translate into sustained demand for rental properties, especially if the cost of homeownership remains high relative to income levels in the area.
When comparing the FMR and market rent, it becomes evident that the rental market is not being heavily subsidized by government programs, suggesting that private landlords and small-portfolio investors have a significant role in setting rental prices. The fact that the market rent exceeds the FMR implies that there is a premium for rentals in Syracuse, UT, which could be indicative of a strong local economy or desirable living conditions that attract higher-paying tenants.
In summary, ZIP 84075 presents a market where demand appears to be keeping pace with, or perhaps slightly exceeding, supply, particularly in the rental sector. The relatively quick sales times and low price-cut share indicate that the homeownership market is also performing well, though at a higher price point. For investors, both rental and ownership opportunities present themselves as viable options, contingent upon the specific goals and risk tolerance of the investor.
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.