Location: Millard County, UT | Metro: Millard County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 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 economics of Section 8 in ZIP code 84656 are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $1050. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
While the local market rent data is currently unavailable, we can still break down how a Section 8 voucher works financially for landlords. A voucher payment covers the difference between what the tenant can afford and the rent amount, up to the SAFMR limit. Tenants are typically required to pay 30% of their adjusted income towards rent. If the tenant's portion plus any utility allowances does not cover the full SAFMR, the landlord will receive the remainder as the subsidy payment.
Let's assume a tenant with an adjusted monthly income of $1500. Their contribution would be 30% of this amount, which equals $450. Utility allowances vary but generally add around $200-$300 to the tenant's contribution. For simplicity, let's use a $250 utility allowance. Thus, the total tenant contribution, including utilities, would be $700.
The Section 8 program would then cover the remaining $350 to reach the SAFMR of $1050. This means the landlord receives a total of $1050 per month for a two-bedroom unit, which is the maximum allowable under the SAFMR for ZIP 84656.
In this scenario, there is no surplus or shortfall since the SAFMR is fully met by the combination of the tenant's payment and the utility allowance. However, if the local market rent were higher than $1050, the landlord would face a reimbursement gap, meaning they would not be able to charge above the SAFMR without absorbing the cost themselves. Conversely, if the local market rent is lower, the landlord might see a surplus where the SAFMR exceeds the typical market rate.
To summarize, for a two-bedroom unit in ZIP 84656, the landlord can expect a guaranteed $1050 per month from the Section 8 program, assuming the tenant's income and utility allowances meet the requirements. The exact reimbursement gap or surplus cannot be determined without specific local market rent data, but it is clear that the SAFMR sets a cap on what landlords can charge under the Section 8 program.
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.