Location: Sevier County, UT | Metro: Sevier County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 84654 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,170, while the Census ACS reports the average market rent at $764. This creates a gap of $406, which translates to a 53.2% difference favoring the landlord.
This scenario makes ZIP 84654 a prime location for a yield play. Voucher tenants under the Section 8 program can provide a steady, government-backed income stream that exceeds the current market rent. For instance, if you were to rent out a property at the FMR of $1,170, you would be collecting $406 more per month than the typical market rate, significantly boosting your rental yield.
The local context further supports this analysis. With 25.9% of residents renting and a median home value of $309,916, it's clear that homeownership is less prevalent, making rental properties more attractive to potential tenants. Additionally, the median income of $64,015 suggests that many residents may struggle to find affordable housing, thus increasing the demand for Section 8 vouchers.
However, it's important to note that accepting Section 8 tenants also comes with its own set of responsibilities and compliance requirements. Landlords must ensure their properties meet HUD standards and are prepared to deal with the administrative aspects of the program. Despite these considerations, the financial advantage of receiving higher rents through the Section 8 program makes it an attractive option for landlords and small-portfolio investors in ZIP 84654.
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.