Section 8 Fair Market Rent (FMR) for ZIP 84623 - 2027

Location: Sanpete County, UT | Metro: Sanpete County, UT

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$870
2 Bedrooms	$1,130
3 Bedrooms	$1,350
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

358

Median Household Income

$N/A

Housing Units

Renter Percentage

52.3%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 84623, located in Utah, is characterized by its suburban landscape and proximity to urban centers, offering residents a blend of rural living and access to city amenities. This area is particularly relevant for real estate investors interested in the Section 8 housing market due to its significant rental population and federally determined Fair Market Rent (FMR) values.

Fair Market Rent (FMR): The FMR for ZIP 84623 is set at $1,140 for the fiscal year 2026, which reflects the maximum amount that a low-income family participating in the Section 8 program can pay towards their rent.
Renter Share: With 52.3% of the population being renters, this ZIP code has a substantial demand for affordable housing options, making it a prime target for investors looking to capitalize on rental opportunities.
Median Home Value: The median home value in ZIP 84623 is not available, indicating a lack of comprehensive data on homeownership in the area. However, this does not detract from the strong rental market presence.
Days on Market (DOM): The average days on market for properties in this ZIP code is not available, suggesting either a robust sales cycle or limited recent transaction data.
Median Income: The median income figure for ZIP 84623 is also not available, which could imply a diverse economic makeup or incomplete census data.

The analysis of ZIP 84623 reveals a strong rental market driven by a high percentage of renters and a clearly defined FMR. Despite the absence of specific data points such as median home value, DOM, and median income, the existing information suggests that the area is well-suited for investors focusing on the Section 8 housing sector. The $1,140 FMR provides a solid benchmark for pricing rental units, ensuring they remain accessible to low-income families while offering a predictable revenue stream for landlords and portfolio owners. The substantial renter population indicates a consistent demand for rental properties, reducing the risk of vacancy and supporting steady cash flow. Overall, ZIP 84623 presents a viable investment opportunity for those willing to navigate the specifics of the Section 8 market.

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.