Section 8 Fair Market Rent (FMR) for ZIP 84724 - 2027

Location: Sevier County, UT | Metro: Sevier County, UT

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$880
2 Bedrooms	$1,010
3 Bedrooms	$1,370
4 Bedrooms	$1,430
5 Bedrooms	$1,659
6 Bedrooms	$1,858
7 Bedrooms	$2,007
8 Bedrooms	$2,107

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,202

Median Household Income

$49,438

Housing Units

585

Renter Percentage

15.4%

Occupancy Rate

87.7%

Renter Occupied

ZIP code 84724, located in Utah, is a suburban area that offers a mix of residential and commercial properties. The region benefits from its proximity to urban centers while maintaining a quieter, more relaxed atmosphere. For real estate investors, particularly those interested in Section 8 housing, understanding the local rental market dynamics is crucial.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,110. This figure represents the maximum amount that can be charged for a two-bedroom unit under the Section 8 program, providing a benchmark for landlords.
The market rent for the area, according to the Census American Community Survey, stands at $682. This reflects the average rent paid by tenants without subsidies, indicating a significant gap between unsubsidized and Section 8 rents.
The median home value in ZIP 84724 is $218,360, which is lower compared to other metropolitan areas, making it an attractive option for first-time homeowners and investors alike.
Renters make up 15.4% of the total population, suggesting a moderate demand for rental properties. However, the presence of Section 8 households could increase this percentage.
The median household income is $49,438, which is below the national average, highlighting the importance of Section 8 subsidies in the local rental market.

Synthesizing these points, the market in ZIP 84724 presents a favorable environment for landlords and small-portfolio investors interested in Section 8 properties. The disparity between the Fair Market Rent and the actual market rent indicates potential for higher returns when participating in the Section 8 program. Additionally, the lower median home values suggest that property acquisition costs are relatively low, further enhancing investment opportunities. However, the moderate renter share implies that there might be competition for tenants, necessitating well-maintained properties and adherence to Section 8 guidelines to ensure occupancy and compliance. With the median income being relatively low, the need for affordable housing solutions, such as Section 8, is evident, creating a steady demand for subsidized units.

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.