Section 8 Fair Market Rent (FMR) for ZIP 84170 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 84170, located in Utah, presents a unique opportunity for real estate investors interested in the Section 8 housing market. This area has specific characteristics that can influence investment decisions, particularly regarding rental properties and their eligibility for federal assistance programs.

• The Fair Market Rent (FMR) for ZIP 84170 in fiscal year 2024 is set at $1610. This figure represents the maximum amount landlords can charge for a Section 8 voucher holder's rent portion, making it crucial for setting competitive yet compliant rental rates.
• The market rent for the area is currently not available, which means there isn't enough recent data to determine if the FMR aligns closely with what the private market is offering. Landlords should be cautious when pricing their units above the FMR without clear market benchmarks.
• The median home value in ZIP 84170 is also not available, indicating limited data on homeownership trends in the area. However, this does not significantly impact the analysis for rental properties.
• The percentage of residents who are renters is not available, but this statistic would help understand the demand for rental properties and the potential competition from other landlords.
• The days on market (DOM) for rental listings is not available, which would normally indicate how quickly properties are rented out. Without this data, landlords must rely on other indicators to gauge rental speed.
• The median household income for the area is not available, which is important for assessing the financial health of potential tenants and the overall economic stability of the ZIP code.

In summary, while the Fair Market Rent provides a clear guideline for pricing rental units in ZIP 84170, the lack of specific data points such as market rent, median home value, renter share, days on market, and median income limits a comprehensive analysis. Landlords and investors should focus on setting rents close to the FMR to attract Section 8 voucher holders, while keeping an eye on broader regional economic trends to make informed decisions about the area's future growth and stability.

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.