Location: Box Elder County, UT | Metro: Box Elder County, UT
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 | $740 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $340,637 | 0.31% | F |
| 3BR | $1,470 | $399,507 | 0.37% | F |
| 4BR | $1,770 | $447,894 | 0.4% | F |
| 5BR | $2,053 | $531,282 | 0.39% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP 84302 market, centered around Brigham City, UT, reveal a balance between supply and demand that leans slightly towards supply outpacing demand. This inference is drawn from the current Fair Market Rent (FMR) set at $970 for the fiscal year 2024, which is notably lower than the Census ACS reported market rent of $1,069. The difference suggests that landlords might be adjusting their rental prices to align more closely with what the market can bear, indicating a slight surplus of available units.
A further indication of this balance is the 0.2% price-cut share, which is relatively low. This implies that while there is some pressure on rental prices, it is not severe enough to force significant reductions across the board. Additionally, the days-on-market (DOM) figure stands at 34 days, which is a moderate duration suggesting that properties are neither selling too quickly nor languishing unsold for extended periods. A DOM of 34 days indicates that the market is somewhat active but not overheated.
The median home value in ZIP 84302 is $435,505, which provides a benchmark for homeownership costs. Coupled with the 27.1% renter share, this suggests a substantial portion of the population opts for renting over purchasing. This high renter share can imply ongoing housing pressure as renters may struggle to afford homeownership, potentially leading to a persistent demand for rental properties. However, it also signals a stable base of tenants who are likely to continue renting, offering landlords a steady stream of income.
In summary, the market in ZIP 84302 presents a scenario where supply slightly exceeds demand, yet the presence of a significant renter population ensures that rental properties remain in high demand. Landlords should expect a competitive environment where pricing close to the FMR will attract tenants, while the moderate DOM suggests a market that is active but not frenzied. The high renter share underscores the importance of maintaining quality rental properties to cater to the ongoing need for affordable housing options in the area.
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.