Location: Sevier County, UT | Metro: Piute County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 84744 stands out due to its unique characteristics. With only 321 residents, it has a very low population density, making it one of the smallest communities in terms of size. Despite this, 23.9% of the residents rent their homes, indicating a notable presence of renters in such a small area. The median income in this ZIP is $76,563, which suggests that while the community is small, it is economically diverse enough to support various housing needs.
The lack of a reported median home value for ZIP 84744 could imply several things. It might suggest that there is limited data available on home values, or it could indicate a high variability in property values, possibly due to the small number of homeowners or the mix of property types in the area.
Moving to the voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $970. This is significantly higher than the market rent of $681 as per the Census ACS. Landlords should note that accepting Section 8 vouchers can provide a guaranteed source of rental income at the FMR rate, which is above the current market rate. This means that even though the overall demand for rentals might be lower due to the small population, landlords who accept Section 8 vouchers can expect to receive higher rents compared to the local market.
The data signature for ZIP 84744 reads as transitional. The combination of a small population, a relatively high percentage of renters, and the gap between FMR and market rent suggests that the housing market here is evolving. Landlords and small-portfolio investors should monitor trends closely, especially regarding changes in the number of renters and the potential for growth in the local economy, which could affect both the demand for rental properties and the median home value.
To summarize, ZIP 84744 offers an opportunity for landlords to secure rental income at a rate above the local market through Section 8 vouchers. However, the small size of the community and the transitional nature of its housing market mean that careful monitoring of local conditions is essential.
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.