Section 8 Fair Market Rent (FMR) for ZIP 84320 - 2027

Location: Logan, UT | Metro: Logan, UT-ID MSA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,162

Median Household Income

$103,810

Housing Units

899

Renter Percentage

16.5%

Occupancy Rate

93.9%

Renter Occupied

139

When considering whether to invest in ZIP code 84320 for Section 8 properties, follow these steps:

Step 1: Determine if the Fair Market Rent (FMR) of $980 can cover the debt service on a property valued at $470,273. The FMR is the maximum amount that a landlord can charge for a Section 8 rental unit. To decide, calculate the annual income from FMR ($980 x 12 months = $11,760) and compare it to your total annual debt service costs. If the FMR income exceeds your debt service, proceed to Step 2. Otherwise, the answer is No.

Step 2: Evaluate the market rent of $927 against the FMR. If the market rent is below the FMR, you can potentially charge the higher FMR rate for Section 8 units, making the investment more attractive. If the market rent is equal to or above the FMR, consider the following:

If market rents are only slightly above FMR, the difference may not significantly impact your decision. Proceed to Step 3.
If market rents are well above FMR, you might prefer renting to non-Section 8 tenants to maximize income. The answer is No.

Step 3: Assess the demand for rentals in ZIP 84320. With 16.5% of the population being renters and the days on market (DOM) data not available, evaluate the following:

If you believe the rental market is robust despite the lack of DOM data, the answer is Yes. There's sufficient demand, and the FMR covers your expenses.
If you're uncertain about the rental market's strength without DOM data, the answer is It Depends. You'll need to conduct further research into local rental trends and competition.

In summary, investing in ZIP 84320 for Section 8 properties is viable if the FMR sufficiently covers your debt service and the market rent is below or close to the FMR. Demand appears adequate based on the percentage of renters, but the absence of DOM data introduces some uncertainty. Conduct additional analysis to confirm the rental market's health before making a final decision.

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.