Location: Summit County, 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 | $2,450 |
| 1 Bedroom | $2,510 |
| 2 Bedrooms | $2,850 |
| 3 Bedrooms | $3,830 |
| 4 Bedrooms | $4,760 |
| 5 Bedrooms | $5,522 |
| 6 Bedrooms | $6,185 |
| 7 Bedrooms | $6,680 |
| 8 Bedrooms | $7,014 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,510 | $478,073 | 0.53% | F |
| 2BR | $2,850 | $800,941 | 0.36% | F |
| 3BR | $3,830 | $1,270,987 | 0.3% | F |
| 4BR | $4,760 | $1,968,076 | 0.24% | F |
| 5BR | $5,522 | $2,840,991 | 0.19% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 84098, Park City, UT, reveals that voucher tenants will only cashflow marginally at the HUD Fair Market Rent (FMR) rate of $2,780 for the fiscal year 2026. The current market rent, as indicated by the Zillow Observed Rental Index (ZORI), stands at $3,538, which is significantly higher than the FMR. This means landlords must consider the difference between the FMR and market rent when evaluating their potential cashflow from Section 8 tenants.
To further understand the investment landscape, the median home value in ZIP 84098 is $1,355,149. Using this figure, we can calculate the rent-to-price ratio. With an average monthly rent of $3,538, the annual rental income would be approximately $42,456. Dividing this by the median home value gives us a rent-to-price ratio of about 3.13%. This ratio suggests that rental income alone does not fully justify the high property values in this area, indicating that long-term appreciation or stability might be more compelling reasons for investment.
The rental market in Park City is relatively efficient, with a median Days on Market (DOM) of 49 days and a low 0.1% share of listings experiencing price cuts. These metrics indicate that rental properties are typically occupied quickly and without significant negotiation, which can benefit investors by reducing vacancy rates and turnover costs. However, the strong rental market also means that landlords must be cautious about setting rents too low, as they risk losing out on potential income.
The strongest angle for Section 8 investors in ZIP 84098 is likely appreciation. Given the high median home value and the strong local economy, investments in this area are poised to see substantial increases in property value over time, even if immediate cashflow is limited.
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.