Location: Wayne County, UT | Metro: Wayne County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 84747, located in Wayne County, Utah, reveals a favorable environment for those seeking stable rental income. The HUD Fair Market Rent (FMR) for the Wayne County metro area, effective for fiscal year 2026, is set at $970 per month. This figure exceeds the current market rent of $878 as reported by the Census Bureau's American Community Survey (ACS).
Voucher tenants will generally cashflow at the HUD FMR rate, providing a positive financial outlook for landlords. The discrepancy between the HUD FMR and the market rent suggests that voucher holders can afford slightly higher rents than what the typical market offers, which can be beneficial for property owners looking to cover their costs and generate profit.
To further understand the investment potential, consider the median home value in the area, which stands at $381,888. This yields a rent-to-price ratio of approximately 0.25%, calculated by dividing the monthly rent ($878) by the median home value ($381,888) and multiplying by 12. This low ratio indicates that the rental market is relatively undervalued compared to the housing market, suggesting an opportunity for long-term appreciation in property values.
Note that the median days on market (DOM) and the percentage of homes that experienced price cuts are not available for this specific ZIP code. However, these metrics typically influence the rent-versus-buy decision-making process among residents. In the absence of these figures, it's important to focus on other key indicators such as the HUD FMR and current market rent to gauge the investment climate.
The strongest investor angle in ZIP 84747 is likely appreciation, given the potential for rising property values over time. This aligns well with the long-term strategy of many Section 8 investors who seek both steady rental income and capital gains.
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.