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Utah County/Orem/84097

84097

ZIPSAFMR
Utah County, UT
Zillow

ZIP Investment Score

40Below average

095130300
BRFMR
Eff. Rent
0 BR$1,170$1,110
1 BR$1,180$1,240
2 BR$1,350$1,430
3 BR$1,870$1,660
4 BR$2,260$2,330
5 BR$2,599Not available
6 BR$2,989Not available
7 BR$3,437Not available
8 BR$3,953Not available

Purchase Price Calculator

Maximum purchase price
$150,581

Cost breakdown

+Likely effective rent$1,430
HUD FMR$1,350
Market rent$1,470
Est. payment standard (106%)Used$1,430
-Principal and interest-$761
Loan amount$120,465
Down payment$30,116
Rate6.50%
Term30 years
-Operating costs-$469
Property taxes-$151
Insurance-$175
Utilities$0
HOA$0
Management-$143
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,094(76.7% ROI)
Projected value
$162,159
Return breakdown
Property appreciation+$11,578
Loan principal paid down+$4,316
Rental cash flow+$7,200
5-year hold
+$39,484(131.1% ROI)
Projected value
$170,368
Return breakdown
Property appreciation+$19,788
Loan principal paid down+$7,697
Rental cash flow+$12,000
10-year hold
+$84,515(280.6% ROI)
Projected value
$192,756
Return breakdown
Property appreciation+$42,175
Loan principal paid down+$18,339
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.05
1 BR
0.93
2 BR
0.92
3 BR
1.13
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 84097 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 84097 (Orem, UT) is $1,350 a month. That is down 4.3% from $1,410 in FY 2026. Orem is in the Provo-Orem-Lehi, UT MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,363. Among 28 ZIP codes in Utah County, 84097 has the 18th-highest two-bedroom rent (county range $1,320–$1,980). The median county two-bedroom FMR in Utah is $1,158, so ZIP 84097 is 17% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 84097
BedroomsFY 2027Change90–110% range
Studio$1,170−3.3%$1,053–$1,287
1BR$1,180−3.3%$1,062–$1,298
2BR$1,350−4.3%$1,215–$1,485
3BR$1,870−4.6%$1,683–$2,057
4BR$2,260−4.6%$2,034–$2,486

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 84097
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,170$1,180$1,350$1,870$2,260
FY 2026$1,210$1,220$1,410$1,960$2,370
FY 2025$1,150$1,160$1,340$1,880$2,250
FY 2024$1,080$1,080$1,240$1,750$2,100
FY 2023$990$990$1,140$1,620$1,940

Two-bedroom rent in nearby Utah County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 84097
84004$1,720+27.4%
84005$1,770+31.1%
84013$1,770+31.1%
84020$1,920+42.2%
84042$1,360+0.7%
84043$1,700+25.9%
84045$1,980+46.7%
84057$1,320−2.2%
84058$1,400+3.7%
84059$1,680+24.4%
84062$1,470+8.9%
84097Current$1,350—

Questions about ZIP 84097 rents

How much will Section 8 pay for a two-bedroom in ZIP 84097?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,363, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,227 to $1,499 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 84097 in?

ZIP 84097 is in the Provo-Orem-Lehi, UT MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,363.

How much did fair market rent change in ZIP 84097 for FY 2027?

The two-bedroom FMR fell 4.3%, from $1,410 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 18.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentOrem, UT fair market rentUT statewide rentsWhat is SAFMR?Data sources