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 | $1,100 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,480 | $344,038 | 0.43% | F |
| 3BR | $1,980 | $431,190 | 0.46% | F |
| 4BR | $2,370 | $455,538 | 0.52% | F |
| 5BR | $2,749 | $614,640 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 84405, Washington Terrace, UT, for fiscal year 2024 is set at $1260. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, this is the maximum amount the government will pay toward rent for a unit in this area. It's important to note that this does not necessarily reflect the actual rent you can charge your tenants; it's the ceiling for the voucher contribution.
In contrast, the local Zillow Observed Rent Index (ZORI), which measures typical market rents, stands at $1363. This indicates that market rents slightly exceed the FMR, suggesting that landlords might have to cover some of the rent difference if they choose to participate in Section 8. However, given the high demand for affordable housing, with 24.4% of renters relying on assistance programs, the potential tenant pool is substantial.
The median home value in ZIP 84405 is approximately $460,475. For those considering purchasing a property to use as a rental, this figure represents the average price point. While this might seem high, remember that the FMR and ZORI figures are for rental units, not purchase prices. The demand for affordable rentals, driven by the significant portion of renters needing assistance, can support steady occupancy rates.
To ensure you're making an informed decision, verify the local vacancy rate. A low vacancy rate indicates strong demand for rental properties, which is crucial when entering the Section 8 market. If the vacancy rate is below 5%, it suggests that there are more people looking for places to live than there are available units, making your property more likely to be occupied.
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.