Location: St. George, UT | Metro: St. George, UT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,180 | $532,235 | 0.41% | F |
U.S. Census Bureau data (2024)
The analysis for Section 8 real estate in ZIP 84782 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1,360. Recent data from Zillow shows that the average market rent in 84782 has risen to $1,598 as of May 3, 2026. This means there is a difference of $238 per month between the FMR and the market rent, representing a 17.5% gap.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors must consider the cost implications of accepting housing voucher tenants. Attracting these tenants means setting rents below the open-market rates, which can impact profitability. However, the benefits include a stable tenant base and reduced vacancy rates, which are crucial in maintaining cash flow.
In the broader context of ZIP 84782, only 4.7% of residents are renters, indicating a relatively low demand for rental properties compared to homeownership. The median home value stands at $543,515, while the median income is $75,625. These figures suggest that while the rental market may be smaller, it is also potentially lucrative due to the high median home values and income levels, which could support higher rents.
Landlords should carefully weigh the decision to participate in the Section 8 program against the potential loss of revenue from renting below market rates. Despite the lower FMR, the strong economic indicators in the area might still make it a viable investment opportunity, particularly if the landlord can manage costs effectively and take advantage of the stability provided by voucher tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.