Location: Box Elder County, UT | Metro: Box Elder County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
ZIP code 84331, located in Box Elder County, Utah, can serve as a diversifier within a Section 8 portfolio strategy. The median income for this area stands at $65,625, indicating a moderate economic status. With a renter share of 17.8%, there is a notable presence of tenants who might rely on government assistance for housing, including the Section 8 program.
The Federal Market Rent (FMR) for ZIP 84331 in fiscal year 2024 is set at $1,320. This figure is slightly below the market rent of $1,375, creating a minor gap of $55 per month. However, this difference is not significant enough to classify the area as a cash-flow anchor. Instead, the focus should be on the potential for steady rental income and the opportunity to tap into the local demand for affordable housing.
The lack of appreciation potential, indicated by the N/A% price-cut share and N/A-day days on market (DOM), suggests that this area is not likely to experience rapid property value increases. Therefore, it is not ideal for an appreciation play. Landlords and small-portfolio investors should prioritize rental income over capital gains in this ZIP code.
Incorporating properties in ZIP 84331 into a Section 8 portfolio can provide a balanced approach to managing risk and ensuring consistent cash flow. The area's characteristics make it suitable for investors looking to diversify their holdings across different types of markets, including those with a significant renter population and moderate income levels. By focusing on the stability of rental income and the local demand for affordable housing, investors can build a resilient portfolio that is less susceptible to fluctuations in property values.
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.