Section 8 Fair Market Rent (FMR) for ZIP 84138 - 2027

FY 2027 Fair Market Rent Rates

To classify ZIP 84138, we must consider both yield and stability metrics. The Fair Market Rent (FMR) for ZIP 84138 in fiscal year 2024 is set at $1610. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. However, the lack of specific market rental rates and median home values makes it challenging to fully assess the yield potential against private market investments.

On the stability axis, critical data points such as the percentage of renters, days on market (DOM), and median household income are not provided. Without these figures, we cannot determine the level of financial security and demand consistency in the area. Typically, higher percentages of renters and lower DOM indicate a stable tenant pool and quicker property turnover, which are positive signs for landlords.

The classification of ZIP 81438 leans towards a steady-cashflow zone when considering only the FMR data. With a guaranteed rent amount of $1610, landlords can expect consistent cash flow from tenants participating in the Section 8 program. This predictability is crucial for small-portfolio investors who rely on steady income streams rather than speculative gains.

However, without additional data on local market conditions, such as competition from non-subsidized rentals, the overall economic health of the area, and the specific characteristics of the housing stock, a definitive assessment cannot be made. Landlords should proceed with caution and seek out supplementary information to better understand the dynamics of ZIP 84138.

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.