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)
0.0% of residents in ZIP 84638 are renters, indicating a predominantly owner-occupied market. This statistic highlights a unique challenge for landlords, as the rental demand is exceptionally low compared to many other areas. Despite this, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,120, which represents the maximum amount that a landlord can charge for a Section 8 voucher holder. The median income in ZIP 84638 stands at $95,625, suggesting a relatively affluent community where potential tenants might have the financial means to secure private rentals without assistance. Given the lack of data on market rent and median home values, it's difficult to provide a direct comparison between these metrics and the FMR. However, the absence of such information could imply a less developed rental market, further emphasizing the low demand for rental properties. In terms of days on market (DOM), there is no available data, which might indicate either a stable market or a lack of recent transactions to analyze. Similarly, the percentage of price-cut shares is also unavailable, leaving questions about the frequency of price adjustments in the rental market unanswered. For landlords considering participation in the Section 8 program within ZIP 84638, the decision should be made with caution due to the extremely low renter share and the high median income, which suggests that tenants might prefer private rentals over subsidized ones. Verdict: Not recommended for Section 8 investment.
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.