Location: Sevier County, UT | Metro: Sevier County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 84620 is situated in a predominantly residential area characterized by a small population of 1,234 individuals. Only 5.6% of the residents are renters, indicating a community that is largely owner-occupied. The median household income stands at $88,810, suggesting a middle to upper-middle class demographic. Median home values are quite high at $341,325, reflecting the relatively affluent nature of the neighborhood.
Turning to the rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the actual market rent, according to the Census ACS, is lower at $888. This discrepancy between the FMR and the market rent could be an indicator of potential opportunities for landlords operating under the Section 8 program, as it allows them to charge a higher rent compared to the local market rate.
Given these figures, ZIP 84620 may not be the ideal location for a hands-off voucher operator due to the low percentage of renters and the relatively high median home value. Instead, the area seems more suitable for a hands-on value-add buyer who can capitalize on the modest difference between the FMR and market rents. Such an investor would likely need to focus on improving property quality and management practices to attract and retain tenants while maximizing the financial benefits of the Section 8 program.
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.