Section 8 Fair Market Rent (FMR) for ZIP 84114 - 2027

FY 2027 Fair Market Rent Rates

The area surrounding ZIP code 84114, located in Salt Lake City, Utah, is characterized by a blend of urban amenities and suburban comfort, making it an attractive location for both residents and investors. The presence of various commercial and residential developments ensures a steady demand for housing, which is reflected in the available data.

• The Fair Market Rent (FMR) for ZIP 84114 is set at $1610 per month for fiscal year 2024, providing a benchmark for rental pricing in the area.
• Market rent data is currently unavailable for this specific ZIP code, indicating a potential gap in comprehensive local market analytics.
• The median home value is also not available, suggesting that the area may be predominantly rental-focused rather than homeownership-driven.
• Renter share data is missing, but given the urban-suburban nature of the area, it's reasonable to expect a significant portion of residents to be renters.
• Average days on the market (DOM) for properties is not available, which could imply either a robust sales process or limited transactional activity.
• The median household income in ZIP 84114 is not provided, though it's important to note that income levels significantly influence the ability of tenants to meet rent payments.

In summary, ZIP 84114 presents a rental market with a defined Fair Market Rent of $1610 per month, indicative of a stable demand. However, the lack of specific data points such as market rent, median home values, and income levels suggests that further research is necessary to fully understand the investment potential. Landlords and small-portfolio investors should focus on securing properties that align with the established FMR and consider the broader economic context of Salt Lake City when evaluating tenant affordability and market trends.

Data Sources: FMR data from HUD (2027).

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.