Location: Iron County, UT | Metro: Iron County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 84756 presents a unique scenario for both landlords and small-portfolio investors, primarily due to the lack of recent data on median home values, the percentage of listings that have been reduced, and the median days on market (DOM). This absence of specific figures suggests an environment where historical trends may not fully capture the current dynamics, making it crucial to rely on other indicators for a comprehensive analysis.
On the rental side, the Fair Market Rent (FMR) for ZIP 84756 in fiscal year 2024 is set at $1360. This figure provides a benchmark for rental rates in the area, but without comparable market data, it's challenging to assess how this compares to actual rental prices. However, the FMR can be used to gauge the affordability of housing and the potential demand for rental properties, particularly for those seeking government-subsidized housing options.
The implications of these data points on pricing power over the next 12-24 months are multifaceted. The median home value being listed as N/A indicates either a lack of recent sales activity or significant variability in property values, which could suggest a stable market with little pressure to adjust prices dramatically. Similarly, the unknown percentage of listings reduced and the median DOM of N/A days imply that there isn't a strong trend towards either rapid sales or prolonged listing periods, which typically signal shifts in buyer confidence and market liquidity.
For long-hold investors, the setup implied by the available data suggests a cautious approach. Without concrete appreciation theses based on current trends, it's difficult to predict substantial growth in property values. However, the stability indicated by the rental market and the FMR can support a strategy focused on steady income generation rather than capital appreciation. This makes ZIP 84756 suitable for investors looking to capitalize on consistent rental yields rather than speculative gains.
To make informed decisions, landlords and investors should monitor local economic indicators, such as employment rates and population growth, which can influence both home values and rental demand. Additionally, keeping an eye on the broader housing market trends, especially those related to mortgage rates and supply chain issues affecting construction costs, will help in understanding the overall context of the ZIP code's real estate 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.