Location: Wayne County, UT | Metro: Wayne County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,250 |
| 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 analysis of ZIP code 84749 reveals critical insights for landlords and small-portfolio investors looking to enter or expand in this market.
Firstly, does the rent math work? The Fair Market Rent (FMR) for the area, set at $1,000 for fiscal year 2026, provides a benchmark for rental pricing. However, without specific data on the current market rent, it's challenging to directly compare the two figures. Assuming the FMR accurately reflects the market conditions, landlords can expect to charge around $1,000 per month for their units, which should cover operational costs and provide a reasonable profit margin.
Secondly, is acquisition affordable? The median home value in ZIP 84749 is not specified, but the average Days on Market (DOM) and the percentage of homes that have been listed with a price cut are both noted as N/A. This lack of data suggests either a stable housing market with little turnover or an insufficient sample size for meaningful analysis. Landlords should seek additional local real estate listings to determine if acquiring properties is financially feasible.
Lastly, is there tenant demand? With a population of 304 and a significant 36.2% of residents being renters, there is a notable demand for rental properties. This high percentage indicates that a substantial portion of the community relies on renting rather than owning homes, suggesting a steady pool of potential tenants.
Verdict: While the rent math appears favorable based on the FMR, the lack of detailed market data complicates a full assessment of acquisition affordability. However, the strong tenant demand, driven by a high renter share, makes ZIP 84749 a viable option for those willing to conduct thorough due diligence on property acquisition. Landlords should focus on securing properties within their budget to capitalize on the existing rental market dynamics.
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.