Section 8 Fair Market Rent (FMR) for ZIP 84734 - 2027

Location: Wayne County, UT | Metro: Wayne County, UT

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$840
2 Bedrooms	$1,030
3 Bedrooms	$1,230
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

255

Median Household Income

$38,095

Housing Units

161

Renter Percentage

37.3%

Occupancy Rate

88.2%

Renter Occupied

The ZIP code 84734, located in Utah, is characterized by a modest but stable housing market. The area offers a mix of rental properties and homeownership opportunities, catering to a diverse range of residents including families, young professionals, and retirees.

Fair Market Rent (FMR): For the fiscal year 2026, the FMR in the metro area for a two-bedroom apartment is set at $970.
Market Rent: According to the Census American Community Survey, the average market rent for the same type of unit stands at $1,005.
Renter Share: A significant portion of the population, 37.3%, consists of renters, indicating a strong demand for rental properties.
Median Income: The median household income is $38,095, which supports the affordability of both FMR and market rent levels.

Investors looking to enter the ZIP 84734 market should note the discrepancy between FMR and market rent, suggesting potential opportunities to offer affordable housing options while still achieving competitive rental yields. With nearly 40% of the population renting, there is a robust base of tenants. The median income figure provides insight into the financial capabilities of the local residents, ensuring that they can afford the prevailing rents. Overall, the area presents a balanced investment opportunity with a focus on providing affordable housing solutions.

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.