Location: Box Elder County, UT | Metro: Logan, UT-ID MSA
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 | $850 |
| 1 Bedroom | $890 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $414,016 | 0.38% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 84312 reveals a market that balances between high yield and moderate stability, making it an attractive option for landlords and small-portfolio investors seeking both returns and security.
On the yield axis, the Fair Market Rent (FMR) for ZIP 84312 in fiscal year 2024 stands at $910, which is notably higher than the market rent of $891. This indicates that properties in this area can command slightly above-average rents, leading to potentially higher cash flows. Furthermore, the average home value in this ZIP code is $432,340, suggesting a relatively affordable entry point compared to other markets. The gap between FMR and market rent, along with the reasonable home value, points towards a high-yield environment.
Moving to the stability axis, 25.7% of residents in ZIP 84312 are renters, indicating a moderate demand for rental properties. While this percentage is not exceptionally high, it does provide a consistent tenant pool. The median household income of $83,088 supports stable rent payments and suggests that tenants have the financial means to cover their rent obligations regularly. However, the lack of data on days on market (DOM) introduces some uncertainty regarding the ease of finding and retaining tenants, which could affect long-term stability.
Given these figures, ZIP 84312 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slight premium on FMR over market rent, combined with the moderate rental population and solid household income, supports a scenario where landlords can expect reliable returns without excessive risk. However, the absence of DOM data means that while stability is likely, it cannot be fully guaranteed.
To summarize, the key figures driving this classification are the FMR of $910, which is above the market rent of $891, the home value of $432,340, and the median household income of $83,088. These factors collectively suggest a market that offers good yields with a reasonable level of stability, suitable for those looking to invest in a balanced rental property market.
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.