Location: Iron County, UT | Metro: Iron County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The ZIP code 84772 presents several challenges for potential Section 8 landlords and small-portfolio investors. Firstly, the tenant turnover rate is unknown, but it's worth noting that the Fair Market Rent (FMR) for the area is set at $1,120 per month for fiscal year 2026, which is the metro-wide figure and might not accurately reflect local conditions. This discrepancy can lead to higher turnover if the actual market rent significantly exceeds the FMR.
Vacancy exposure is another concern, as the average days on market (DOM) is not available. A longer DOM can increase vacancy costs, which can be substantial over time. Deferred maintenance is also a risk factor, especially considering the lack of data on typical home values and median incomes in the area. Without these figures, it's difficult to assess the financial health of tenants and their ability to cover maintenance costs, which can be a significant burden for landlords.
Despite these risks, the ZIP code 84772 has a high renter share of 35.4%, indicating a strong demand for rental properties. High renter density often translates into greater demand for Section 8 vouchers, which can help mitigate the risk of vacancy. Additionally, the concentration of renters may provide a larger pool of potential tenants, reducing the impact of individual tenant turnovers.
In conclusion, the ZIP code 84772 poses a moderate risk for a first-time Section 8 landlord due to the unknowns regarding tenant turnover, vacancy exposure, and deferred maintenance, balanced against the high renter share that suggests strong demand for rental units.
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.