Location: Logan, UT | Metro: Logan, UT-ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
The Section 8 thesis in ZIP code 84322 is based on the discrepancy between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $1,250. However, the market rent data is currently unavailable, which complicates a direct comparison.
Despite the lack of specific market rent figures, we can infer that if the market rent were higher than the FMR, landlords would be absorbing the difference between the two rates when accepting housing vouchers. This scenario would mean that voucher tenants are paying less than the open-market rate, potentially reducing the landlord's income and increasing the cost of maintaining rental properties at competitive standards.
In contrast, if the FMR exceeds the market rent, then voucher tenants become a more attractive option for landlords and small-portfolio investors. This situation transforms the property into a yield play, where the guaranteed income from the voucher program can exceed what might be collected from regular market-rate tenants. In such a case, the difference in dollars and percentage would represent a subsidy landlords receive from the government to keep rents affordable.
Without precise market rent data, it's challenging to quantify the exact gap and its impact in terms of dollars and percentage. However, the analysis should be anchored in the broader context of the ZIP code. For instance, the percentage of renters and the median home values and incomes provide insight into the overall housing dynamics. Currently, these contextual figures are also unavailable, making it imperative to conduct further research to understand the local housing market fully.
To proceed with a comprehensive analysis, it's necessary to obtain the latest market rent data for ZIP 84322. Once available, the gap between FMR and market rent can be calculated precisely, allowing for a clearer understanding of the financial implications for landlords and small-portfolio investors.
Data Sources: FMR data from HUD (2027).
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.