Location: Ogden, UT | Metro: Ogden, UT MSA
| 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 |
U.S. Census Bureau data (2024)
The market in ZIP 84408 presents a dynamic environment that can be interpreted through the lens of current data points. With a Fair Market Rent (FMR) of $1210 for the fiscal year 2024, landlords and small-portfolio investors can gauge the baseline rental rates expected in this area. However, the absence of market rent data indicates a lack of comprehensive recent data, which might suggest either a stable market or an under-reported one.
The Fair Market Rent is a critical benchmark set by HUD to determine eligibility for rental assistance programs. An FMR of $1210 suggests that the average rent for a modest apartment in ZIP 84408 should not exceed this amount. Given the lack of data on price-cut shares and days on market (DOM), it's challenging to pinpoint whether supply outpaces demand or vice versa. Typically, high DOM values indicate a surplus of properties relative to demand, while low DOM values signal a competitive market where units are rented quickly.
The median home value data being unavailable suggests that homeownership trends are less clear in this area. This could mean that the rental market is more prominent, but without a specific percentage for the renter share, we cannot definitively conclude the extent of rental versus ownership. A higher renter share generally implies greater long-term housing pressure, as renters often face challenges in finding affordable housing options.
In summary, ZIP 84408 appears to be a market where the rental sector is significant, given the FMR figure, but the overall dynamics between supply and demand remain ambiguous due to the lack of detailed market rent and DOM data. The absence of median home value and renter share percentages leaves some uncertainty regarding the balance between rental and ownership markets, though it hints at the importance of the rental sector in the area.
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.