Location: Sanpete County, UT | Metro: Sanpete County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
25.5% of residents in ZIP code 84647 are renters, indicating a significant portion of the population relies on rental housing. This statistic underscores the potential demand for rental properties in the area. $387,270 is the median home value, which places the region in an upper-middle-class bracket, suggesting homeownership is prevalent among higher-income individuals. However, $1,073 is the average market rent based on Census ACS data, providing insight into what tenants are willing to pay. This figure is notably lower than the Fair Market Rent (FMR) set at $1,460 for the metro area in fiscal year 2026, offering landlords a clear benchmark for pricing their units competitively while ensuring they meet the FMR standards.
$65,970 is the median income for the ZIP code, which is below the FMR threshold for a four-person household. This indicates that many residents could benefit from Section 8 assistance, making it a viable option for landlords looking to attract stable tenants. The data shows that 0.1% of listings have been price-cut, reflecting a market where properties are generally valued correctly and do not often require adjustments. While the days on market (DOM) is listed as N/A, this likely means that listings move quickly, supporting the idea that the market is robust and attractive to both buyers and renters.
In conclusion, the ZIP code 84647 presents a favorable environment for landlords and small-portfolio investors interested in Section 8 participation. With a strong tenant base, a median income that aligns well with Section 8 eligibility criteria, and a market rent significantly below the FMR, there is ample opportunity to secure long-term, government-subsidized tenants without compromising on property values. The low percentage of price-cut shares further reinforces the stability and attractiveness of this market. For landlords, accepting Section 8 vouchers can ensure steady occupancy and income, making it a sound investment strategy in ZIP 84647.
Verdict: Accepting Section 8 vouchers in ZIP 84647 is a prudent choice for landlords aiming to maximize occupancy and financial security.
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.