Location: Salt Lake City, UT | Metro: Salt Lake City, UT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,440 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
U.S. Census Bureau data (2024)
The classification of ZIP 84094 (White City, UT) on the yield and stability axes reveals a mixed profile that leans towards a steady-cashflow zone. The Fair Market Rent (FMR) for the area is set at $1,910 for fiscal year 2024, which is notably higher than the market rent of $1,824. This suggests a decent potential for rental income above market rates, making it a relatively high-yield area.
However, the stability metrics paint a picture that is more cautious. With 24.2% of residents being renters, the demand for rental properties is moderate but not overwhelming. Additionally, the average days on market (DOM) for rental listings is 19 days, indicating a reasonably stable market where properties do not remain vacant for extended periods. The median household income of $106,732 provides assurance that tenants can afford rent, further supporting the stability of the rental market.
To put these figures into perspective, the median home value of $556,956 is significantly higher than the median income, suggesting that homeownership might be less accessible to many residents. This could imply a sustained need for rental housing, which supports the steady-cashflow classification. However, the relatively low percentage of renters compared to other markets means that while there is demand, it is not so high as to create a highly volatile environment.
In conclusion, ZIP 84094 presents an opportunity for steady cash flow with reasonable yield potential, making it suitable for landlords and small-portfolio investors looking for consistent returns rather than high-risk, high-reward investments. The key figures driving this assessment are the FMR of $1,910, market rent of $1,824, median income of $106,732, and the 19-day DOM.
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.