Location: Logan, UT | Metro: Logan, UT-ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 84308 represents a small, relatively affluent neighborhood. With a total population of 260, it is predominantly owned rather than rented, with only 11.0% of residents being renters. The median household income in this area is strong at $83,333, indicating a community where most residents have the financial means to either purchase their homes or pay higher rents. However, the lack of data on median home values suggests that the housing market in this ZIP code might be unique or less active compared to other areas.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 84308, as set by HUD for fiscal year 2024, is $1040. This figure is slightly below the market rent reported by the Census Bureau's American Community Survey (ACS), which stands at $1,063. The proximity of these two figures implies a stable rental market, where government subsidies through the Section 8 program can closely match the actual cost of renting in the area.
Given the characteristics of ZIP 84308, it would likely suit a hands-off voucher operator more than a hands-on value-add buyer. The low percentage of renters indicates a limited pool of potential tenants who might rely on Section 8 vouchers. Moreover, the strong median income suggests that many residents can afford market rates without assistance, reducing the demand for subsidized housing. For a hands-off operator, the stability of the FMR and market rent figures provides a predictable income stream, while the relatively small number of renters means that the competition for voucher tenants is less intense.
In summary, ZIP 84308 presents an opportunity for hands-off Section 8 investors due to its stable rental market and limited but potentially reliable tenant base. The economic profile of the area supports this strategy, with a high median income and a small population that minimizes the complexity of managing a large portfolio of properties.
Data Sources: FMR data from HUD (2027). 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.