Location: Box Elder County, UT | Metro: Box Elder County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 84336 presents a unique profile within the county it resides in. With a total of 481 residents, it stands out due to its relatively small population size. Despite this, 21.4% of the residents are renters, indicating a notable demand for rental properties. The median income in ZIP 84336 is $89,392, which suggests that the area has a middle-class demographic. However, the lack of data on the median home value indicates that there might be limited sales activity or a significant portion of owner-occupied homes.
Moving to the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 84336 is set at $970 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount the government will pay for a rental unit. The absence of market rent data for comparison means that landlords must rely on local knowledge and trends to determine if their rental rates are competitive and sustainable. If the actual market rents are higher than the FMR, landlords may need to consider the gap between the voucher payment and the market rate when deciding to participate in the Section 8 program.
The data signature for ZIP 84336 can be interpreted as "stable." The consistent median income and the known FMR suggest that the economic conditions are predictable. However, the lack of median home value data introduces an element of uncertainty regarding the overall housing market dynamics. For investors, this stability provides a reliable framework within which to operate, but they should remain vigilant for any signs of change in the local rental market.
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.