Location: St. George, UT | Metro: St. George, UT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 84763 reveals a market that balances yield potential with some level of stability, making it an attractive option for both high-yield seekers and those looking for steady cash flow. The Fair Market Rent (FMR) for the area is set at $1,110 for the fiscal year 2024, which is significantly lower than the average market rent of $1,513. This indicates a strong opportunity for rental income above the FMR threshold, especially considering the median home value of $738,362.
The rental yield can be calculated by taking the difference between the market rent and the FMR, which in this case is $1,513 - $1,110 = $403 per unit per month. This suggests a relatively high-yield environment where landlords can potentially earn above the government-set fair rent levels.
Regarding stability, the ZIP code has a notable 24.4% of its population renting, indicating a substantial demand for rental properties. However, the lack of data on the number of days on market (DOM) suggests some uncertainty about how quickly properties can be rented out. Additionally, the median household income of $54,722 provides insight into the financial capability of the tenants, which is crucial for assessing the likelihood of timely rent payments and overall tenant stability.
While the high yield is appealing, the stability factor is somewhat mitigated by the limited income level compared to the high home values. Landlords should consider these aspects carefully. The market presents itself as a mix between a high-yield potential and a need for careful management to ensure stable cash flows. Given the figures, it leans slightly more towards being a high-yield market with moderate stability concerns.
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.