Location: Wayne County, UT | Metro: Wayne County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The market in ZIP code 84715 presents a dynamic environment that reflects both current trends and underlying pressures within the housing sector. With a Fair Market Rent (FMR) of $1,030 for fiscal year 2026, it indicates an upward trajectory in rental costs compared to the current market rent of $850 based on Census ACS data. This suggests that the rental market is experiencing growth, likely driven by increasing demand.
The 27.9% renter share points to a significant portion of the population preferring or needing to rent rather than own homes. This can be indicative of several factors including affordability issues, transient populations, or individuals choosing to rent due to lifestyle preferences. Regardless of the reason, a higher renter share often translates into sustained long-term housing pressure, as these individuals rely on the availability of rental properties.
In the absence of specific data regarding the days on market (DOM) or median home values, we can infer that the rental market is robust given the disparity between the FMR and current market rents. Landlords and small-portfolio investors should take note of the growing gap, which could signal an opportunity for those willing to invest in rental properties. The lack of price-cut share data might suggest that properties are selling at or near their listed prices, indicating strong buyer interest and possibly limited supply.
The overall picture suggests that demand may be outpacing supply in the rental market, creating a scenario where landlords could potentially see increased occupancy rates and rising rental incomes over time. However, the high renter share also implies continuous competition for rental properties, making it crucial for investors to maintain quality standards and competitive pricing to attract tenants.
To fully understand the dynamics of ZIP 84715, landlords and investors must consider the broader economic context, such as employment rates, income levels, and local development projects. These factors can influence the balance between supply and demand, and ultimately affect rental income and property values.
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.