Location: Ogden, UT | Metro: Ogden, UT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,160 | $227,505 | 0.51% | F |
| 2BR | $1,460 | $311,546 | 0.47% | F |
| 3BR | $1,950 | $404,411 | 0.48% | F |
| 4BR | $2,360 | $476,408 | 0.5% | F |
| 5BR | $2,738 | $631,796 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 84403 in Ogden, UT, hosts a significant population of 37,721 individuals, with 31.2% being renters. This indicates that it is a renter-heavy area, suitable for landlords and small-portfolio investors looking to cater to a substantial tenant pool. The median household income in this ZIP is $88,236, which provides a benchmark against which we can evaluate the affordability of housing.
The market rent in 84403 is currently set at $1,414 per month. To put this into perspective, typical rent consumes approximately 16.02% of the local median income. This percentage is calculated by dividing the annual rent ($1,414 * 12 months) by the median household income ($88,236), which shows that renting is relatively affordable compared to the average income.
However, when comparing the market rent to the Fair Market Rent (FMR) established by the Department of Housing and Urban Development (HUD) for FY 2024, which is $1,140 for this ZIP code, there is a notable discrepancy. The market rent exceeds the FMR by about $274, indicating that landlords might face challenges in attracting tenants who rely solely on Section 8 vouchers. The FMR serves as an upper limit for rental assistance under the Section 8 program, meaning that landlords seeking to attract voucher holders will need to keep their rents below or close to this figure.
In summary, while 84403 has a healthy proportion of renters and a median income that makes renting generally affordable, the current market rent is higher than the HUD's FMR. Therefore, landlords should expect tenants who either supplement their voucher income with personal funds or those who do not rely exclusively on Section 8 assistance. The area is likely to have a mix of tenants, including those with vouchers and others who pay market rates, reflecting a diverse economic landscape.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.