Location: Kane County, UT | Metro: Kane County, UT
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,850 | $450,099 | 0.41% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 84741 stands at $85,417. At first glance, this might seem like a robust figure for potential renters. However, when compared to the market rent rate of $1,051, the picture becomes clearer. A household earning the median income would dedicate approximately 29% of their monthly earnings to cover the market rent, which is a significant portion but still within the generally accepted range of affordability.
Contrastingly, the Fair Market Rent (FMR) standard set for voucher payments in the metro area for fiscal year 2026 is $1,680. This represents a substantial increase over the market rate, making it an attractive option for landlords who qualify for accepting vouchers. For a household earning the median income, the FMR standard would require them to allocate nearly 50% of their monthly earnings towards rent, which is beyond the typical threshold of affordability and could pose financial strain.
With 22.3% of the 6,373 population being renters, the competition for affordable housing is notable. The disparity between the market rent rate and the FMR standard indicates a clear affordability gap, suggesting that many renters might struggle to find suitable housing without assistance. This scenario presents landlords with a strategic decision point: they can either target the broader market of cash-paying tenants who might be financially stretched, or focus on securing a more stable income through voucher-supported rents, albeit with the constraints that come with participating in the Section 8 program.
The takeaway for landlords considering their strategy is straightforward: while cash-paying tenants represent a larger pool of potential renters, the financial burden on these households is considerable. Accepting vouchers can provide a steady stream of income that exceeds the market rate, but landlords must weigh this against the administrative requirements and limitations of the Section 8 program. In ZIP 84741, where the affordability gap is pronounced, voucher acceptance could be a viable strategy for landlords looking to attract and retain tenants effectively.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.