Location: Box Elder County, UT | Metro: Box Elder County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 84324 presents a unique opportunity for both landlords and small-portfolio investors. With a median home value of $665,460, the area is positioned at a premium price point, indicating strong demand for housing. However, the absence of percentage reductions in listings and the undefined median days on market (DOM) suggest that the market is stable but lacks significant momentum in either direction.
This stability implies that landlords and investors can maintain their current rental rates without fear of losing tenants due to higher market rates elsewhere. The Fair Market Rent (FMR) for ZIP 84324 is set at $1,170 for fiscal year 2024, while the current market rent stands at approximately $2,000. This gap highlights an immediate advantage for property owners who can charge above the subsidized rate, catering to a broader range of tenants including those not reliant on government assistance.
The discrepancy between the FMR and market rent signals a potential for maintaining higher rental income, which can be crucial for covering mortgage payments and operational costs. Long-term investors should consider the implications of this setup for future appreciation. Given the high median home value and the current rental dynamics, there is a solid foundation for gradual appreciation. However, the lack of specific data on listing reductions and DOM suggests that rapid growth in home values is unlikely.
A realistic appreciation thesis for long-hold investors in ZIP 84324 would focus on steady, modest gains rather than explosive increases. The market appears to favor those who can leverage their properties for rental income, especially considering the disparity between FMR and actual market rents. This scenario supports a strategy where holding onto properties for rental purposes could be more profitable than flipping them in the short term.
In summary, ZIP 84324 offers a balanced environment for real estate investment, characterized by high median home values and favorable rental conditions. Investors should anticipate a market that supports modest appreciation and consistent rental yields, aligning well with a long-term holding strategy.
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.