Location: Millard County, UT | Metro: Millard County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
ZIP 84637, located in Millard County, UT, serves as an effective cash-flow anchor within a Section 8 portfolio strategy. The median home value in this area stands at $338,458, which aligns closely with the Fair Market Rent (FMR) of $1,120 set for the metro area in fiscal year 2026. This makes it feasible for landlords to receive a stable income through Section 8 vouchers, covering most if not all of their mortgage and maintenance costs.
The lack of recent market data on price cuts and days on market (DOM) indicates a relatively steady and unvolatile market. This stability is crucial for maintaining consistent cash flows, especially when relying on government-subsidized rental programs like Section 8. The absence of significant fluctuations in property values suggests that landlords can expect reliable returns without the risk of sudden drops in rental income.
ZIP 84637 also has a 9.2% renter share, indicating a moderate demand for rental properties. However, given the specific focus on Section 8, the median income figure of $80,357 is less relevant compared to the FMR and median home value. The key metric here is the alignment between the FMR and the cost of owning a property in this ZIP code, ensuring that landlords can maintain positive cash flow while participating in the program.
In conclusion, ZIP 84637 should be considered a strong cash-flow anchor for Section 8 portfolios due to the favorable relationship between the FMR and the median home value. This allows landlords to secure steady income streams without the need for aggressive price adjustments or extended marketing periods, thus minimizing financial risks associated with property ownership.
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.