Section 8 Fair Market Rent (FMR) for ZIP 84134 - 2027
Location: Salt Lake City, UT | Metro: Salt Lake City, UT HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,210 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
To determine if you should buy in ZIP code 84134 for Section 8, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1610 cover your debt service?
- Yes: Proceed to the next question.
- No: Do not purchase. The FMR does not sufficiently cover the cost of debt service, making the investment unprofitable.
- 2) Is the market rent above, at, or below the FMR?
- Above: The area is attractive for non-Section 8 tenants. Consider diversifying your tenant mix to include both market-rate and Section 8 tenants.
- At: Market conditions are stable, aligning well with FMR. This ZIP code is suitable for Section 8 tenants.
- Below: Market rates are lower than FMR. While Section 8 can still be viable, you may face challenges attracting other types of tenants.
- 3) Is there sufficient demand for rental properties?
- N/A% of renters and N/A-day days on the market (DOM): Without specific percentages and DOM data, it's impossible to make a definitive judgment. However, generally speaking, a higher percentage of renters and shorter DOM indicate strong demand. Conversely, low percentages and longer DOM suggest weak demand.
The final decision hinges on the answers to these questions. If the FMR covers your debt service, market rents are at least equal to the FMR, and there is robust demand for rentals, then buying in ZIP 84134 for Section 8 is a sound investment. Otherwise, it depends on your risk tolerance and investment strategy. Always consider the specifics of your financial situation and local market dynamics.
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.