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 | $1,210 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,630 | $355,548 | 0.46% | F |
| 3BR | $2,180 | $477,402 | 0.46% | F |
| 4BR | $2,610 | $535,368 | 0.49% | F |
| 5BR | $3,028 | $691,541 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 84414, located in North Ogden, Utah, stands out due to its distinct demographic and economic characteristics. With a population of 34,334 residents, only 14.7% of whom are renters, this area has a strong foundation of homeownership. The median income in North Ogden is $114,833, which is notably higher than the national average, indicating a relatively affluent community. Furthermore, the median home value of $544,728 underscores the significant investment that homeowners have made in their properties.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 84414 in fiscal year 2024 is set at $1,330. This figure is substantially lower than the Zillow Observed Rent Index (ZORI), which stands at $1,862. This discrepancy suggests that landlords in North Ogden can still achieve a reasonable profit margin by participating in the Section 8 program, even if they must accept slightly below-market rents. The lower FMR compared to the ZORI also indicates that there is a potential for rental units to be underutilized, as some landlords might prefer higher market rents over the guaranteed but lower FMR rates.
The data signature for ZIP 84414 reads as stable. The high median income and median home value suggest a well-established community with low turnover and a steady demand for housing. While the rental rate is relatively low, the overall economic indicators point towards a stable environment where the value of homes is likely to remain consistent. For landlords and small-portfolio investors, this stability means predictable returns and less risk associated with fluctuations in property values or tenant turnover. Participation in the Section 8 program can provide a reliable source of income, though it comes with the trade-off of accepting lower rent rates than those available in the open market.
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.