Location: Wayne County, UT | Metro: Garfield County, UT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 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)
ZIP code 84775 within the Wayne County, UT metro has a Fair Market Rent (FMR) of $970 for fiscal year 2026. This figure is key in understanding how it compares to other ZIP codes in Wayne County, UT.
The FMR of $970 suggests that 84775 is likely a value pocket within the Wayne County, UT metro. This is because the FMR is used to determine the maximum rental assistance payment standards for the Housing Choice Voucher Program (Section 8), and a lower FMR indicates more affordable rents relative to other areas. The absence of specific market rent and home value data for 84775 makes direct comparisons challenging, but the FMR alone points towards affordability.
The 0.4% renter share in 84775 is notably low compared to what might be expected in a typical Wayne County, UT ZIP code. A low renter share typically means fewer residents are renting, which could indicate a preference for homeownership or that rental housing is less common or more expensive, driving down the percentage of renters. However, given the FMR, it's reasonable to infer that rental housing in 84775 is relatively affordable, even if the overall number of renters is small.
In the context of Section 8 analysis, the combination of an affordable FMR and a low renter share could signal an opportunity for landlords and small-portfolio investors. While the renter share is low, the fact that the FMR is significantly lower than what might be found in higher-renter-share ZIP codes suggests that 84775 could be a sweet spot for those looking to attract Section 8 tenants without competing against higher-priced markets.
To further refine this assessment, one would need additional data on market rents and home values for both 84775 and other ZIP codes in Wayne County, UT. However, based on the available information, 84775 appears to be a value pocket, offering affordable rental opportunities within a potentially less competitive environment for Section 8 vouchers.
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.