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 | $1,430 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,570 | $503,853 | 0.51% | F |
| 4BR | $3,080 | $563,333 | 0.55% | F |
| 5BR | $3,573 | $632,816 | 0.56% | F |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 84087 reveals a significant gap between the Fair Market Rent (FMR) set at $1800 for fiscal year 2024 and the actual market rent reported at $1,653 according to the Census ACS. This gap amounts to $147, or approximately 8.9%, indicating that the FMR exceeds the current market rent.
In this scenario, where FMR is higher than the market rent, landlords and small-portfolio investors can leverage the Section 8 program to achieve higher yields. The FMR of $1800 provides a benchmark above which voucher tenants can potentially subsidize rents, offering landlords an opportunity to increase their rental income without setting prices above what the market will bear. This makes the area a prime location for maximizing returns through the rental of properties to Section 8 tenants.
With only 13.1% of residents classified as renters and a median home value of $554,308, the overall demand for rentals in ZIP 84087 is relatively low compared to areas with higher rental populations. However, the presence of the Section 8 program compensates for this by ensuring a steady stream of tenants who can afford to pay close to the FMR. Additionally, the median income of $132,774 suggests that the population has the financial capacity to support higher rental values, further justifying the potential for increased yields through Section 8 participation.
The analysis underscores that landlords can benefit from the discrepancy between the FMR and the actual market rent. By accepting Section 8 vouchers, they can command rents closer to the FMR, thereby increasing their cash flow and investment returns. This approach aligns well with the local economic conditions, making it a strategic choice for those looking to optimize their rental investments in ZIP 84087.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.