Location: Garfield County, UT | Metro: Garfield County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The market in ZIP code 84735, characterized by a Fair Market Rent (FMR) of $1,030 for fiscal year 2026, presents an intriguing dynamic that reflects broader trends in housing and rental markets. While specific data on market rent, price-cut share, days on market (DOM), and median home value are currently unavailable, the snapshot provided offers insight into the underlying forces at play.
A key indicator of market movement is the 12.2% renter share. This figure suggests a steady presence of renters, which can be indicative of a few factors. Firstly, it points to a demographic that includes a significant portion of individuals who prefer or require renting over homeownership. This could include young professionals, students, or those in transitional phases of their lives. Secondly, a notable renter share often correlates with areas experiencing growth or development, where the cost of homeownership may be prohibitive for some residents. In such cases, rental properties become a critical component of the housing landscape, ensuring that there is always a segment of the population seeking rental units.
The FMR set at $1,030 provides a benchmark for affordable housing standards, established by the U.S. Department of Housing and Urban Development (HUD). This figure is particularly important for landlords and small-portfolio investors considering the eligibility of tenants for government-subsidized housing programs. However, the absence of current market rent data makes it challenging to assess whether the market rent is above or below the FMR, which would indicate either a competitive or a less competitive rental environment.
In the absence of detailed supply and demand metrics, the overall picture leans towards a market where the demand for rentals is likely stable or growing, given the relatively high renter share. This stability or growth can exert long-term housing pressure, compelling landlords and investors to maintain or even increase rental rates to keep up with the demand and the associated costs of property management and maintenance. The dynamics of this market suggest that while it may not be booming, it is certainly active, with a consistent flow of renters seeking accommodation that fits within the affordability guidelines set by HUD.
For investors, understanding these dynamics means recognizing the importance of maintaining competitive rents and attractive properties to cater to the existing and potential influx of renters. The market in ZIP 84735 is one in motion, driven by the interplay between demographics and economic realities, making it a viable option for those looking to invest in a stable rental market.
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.