Location: Emery County, UT | Metro: Emery County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The ZIP code 84537, located within Emery County, UT, presents a unique scenario when compared to the broader metro area. The Fair Market Rent (FMR) for 84537 is set at $1,100 for fiscal year 2026, which is higher than the actual market rent of $852. This suggests that while the government benchmark for rental affordability is higher, landlords can still expect a slightly lower rent compared to the FMR.
The median home value in 84537 stands at $287,880, which is likely reflective of the overall housing market in Emery County, UT. However, it's worth noting that the renter share in this ZIP code is 11.0%, indicating a smaller proportion of residents renting compared to owning their homes.
To determine if 84537 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the interplay between these figures. Given that the market rent is below the FMR, this could imply that the area is more affordable for renters, especially those who might qualify for Section 8 assistance. The FMR being higher than the market rent could also indicate that landlords have an opportunity to increase rents without significantly deterring tenants seeking federal housing assistance.
However, the median home value is relatively high compared to the market rent, suggesting that homeownership is the predominant form of housing in 84537. This contrasts with areas where a high renter share is coupled with lower home values, often signaling a potential sweet spot for Section 8 investments due to the affordability gap.
In summary, 84537 appears to be a mid-tier neighborhood within Emery County, UT. It offers some value for renters due to the discrepancy between FMR and market rent but leans towards homeownership given the higher median home value. Landlords should be cautious about pricing rentals above the market rate, as this could limit the pool of eligible Section 8 tenants.
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.