Location: Salt Lake City, UT | Metro: Salt Lake City, UT HUD Metro FMR Area
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 | $1,230 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $457,742 | 0.36% | F |
| 3BR | $2,190 | $553,069 | 0.4% | F |
| 4BR | $2,490 | $565,134 | 0.44% | F |
| 5BR | $2,888 | $651,558 | 0.44% | F |
U.S. Census Bureau data (2024)
1650 is the Fair Market Rent (FMR) for ZIP code 84088 in West Jordan, UT, for fiscal year 2024. This figure represents the maximum amount a landlord can charge for a unit under the Section 8 program. In contrast, the market rent, known as ZORI, stands at 1576, indicating that the FMR slightly exceeds the typical rental rates in the area. The median home value in this ZIP code is 578776, suggesting a moderate to high-value residential market. With a renter share of 24.6%, it's evident that nearly a quarter of the residents are likely to be interested in affordable housing options. The median income of 105142 provides insight into the financial capacity of potential tenants, though it's important to note that Section 8 participants often have lower incomes. The average days on market (DOM) is 25, which is relatively short, indicating that properties are typically rented quickly once listed. Furthermore, the price-cut share is only 0.2%, showing that landlords rarely need to reduce their asking price to attract tenants. Given these figures, the verdict for Section 8 participation in ZIP 84088 is positive, with favorable conditions for landlords looking to stabilize occupancy and ensure timely payments.
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.