Section 8 Fair Market Rent (FMR) for ZIP 84776 - 2027
Location: Garfield County, UT | Metro: Garfield County, UT
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $800 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$72,031
To determine if you should buy in ZIP code 84776 for Section 8 investment, follow these steps:
- Step 1: Clear Debt Service: The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $1,230. This figure must cover the debt service on any property you're considering. Given that the median home value in ZIP 84776 is not specified, calculate whether the $1,230 FMR can indeed clear the debt service for your particular property. If it does not, then the answer is No. Proceed only if the FMR clears the debt service.
- Step 2: Market Rent Comparison: Compare the $1,230 FMR to the prevailing market rents in ZIP 84776. Since the specific market rent data is not provided, assess if it is above, at, or below the FMR. If market rents are significantly above the FMR, consider the risk of relying solely on Section 8 tenants. If they are at or below the FMR, the risk is lower, and the answer leans towards Yes.
- Step 3: Demand Assessment: In ZIP 84776, 16.5% of residents are renters, indicating a moderate level of rental demand. Additionally, the Days on Market (DOM) is not specified, but generally, a lower DOM suggests higher demand. If the DOM is low and combined with the 16.5% rental rate, there's sufficient demand to support a Section 8 investment. This scenario would result in a Yes. However, if the DOM is high, it might indicate slower leasing times, which could make the decision It Depends, as other factors such as property condition and location become critical.
If you proceed past the first two steps with a positive outcome and find that the DOM is favorable, the overall answer is Yes. Otherwise, the decision is No or It Depends, based on the specifics of your property and local market conditions.
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.