Location: Box Elder County, UT | Metro: Box Elder County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
17.9% of the population in ZIP code 84311 are renters, indicating a moderate demand for rental properties. The $910 Fair Market Rent (FMR) for the area, as of fiscal year 2024, is a key figure for landlords and investors considering the Section 8 program. Comparatively, the $975 market rent, derived from Census ACS data, suggests that the local rental market slightly exceeds the FMR threshold, potentially offering higher returns outside of subsidized housing. However, the median home value of $477,408 highlights a relatively expensive real estate market, which could impact the availability and affordability of properties for Section 8 participants. The median income of $77,841 provides context on the financial capabilities of residents, though it does not directly correlate with eligibility for Section 8 assistance. Unfortunately, specific data on days on market (DOM) and the percentage of price-cut shares are not available, which could have offered insights into the speed and competitiveness of property transactions in the area. Given these figures, landlords should carefully consider the balance between market rents and the FMR when deciding whether to participate in the Section 8 program. The verdict on Section 8 for ZIP 84311 is that it remains a viable option for landlords seeking stable tenancy, albeit with the understanding that returns might be lower than the current market rents.
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.