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Utah County/Salem/84653

84653

ZIPSAFMR
Utah County, UT
Zillow

ZIP Investment Score

47Below average

095130300
BRFMR
Eff. Rent
0 BR$1,240$1,360
1 BR$1,240$1,240
2 BR$1,420$1,420
3 BR$1,970$2,000
4 BR$2,370$2,370
5 BR$2,726Not available
6 BR$3,134Not available
7 BR$3,604Not available
8 BR$4,145Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMRUsed$1,420
Market rentN/A
Est. payment standardN/A
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.70
3 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 84653 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 84653 (Salem, UT) is $1,420 a month. That is down 8.4% from $1,550 in FY 2026. Salem 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, 84653 has the 11th-highest two-bedroom rent (county range $1,320–$1,980). The median county two-bedroom FMR in Utah is $1,158, so ZIP 84653 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 84653
BedroomsFY 2027Change90–110% range
Studio$1,240−6.8%$1,116–$1,364
1BR$1,240−7.5%$1,116–$1,364
2BR$1,420−8.4%$1,278–$1,562
3BR$1,970−8.8%$1,773–$2,167
4BR$2,370−8.8%$2,133–$2,607

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 84653
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,240$1,240$1,420$1,970$2,370
FY 2026$1,330$1,340$1,550$2,160$2,600
FY 2025$1,220$1,230$1,420$1,990$2,380
FY 2024$1,190$1,190$1,370$1,930$2,320
FY 2023$1,110$1,120$1,280$1,820$2,180

Two-bedroom rent in nearby Utah County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 84653
84604$1,580+11.3%
84605$1,370−3.5%
84606$1,330−6.3%
84626$1,320−7.0%
84629$1,320−7.0%
84633$1,320−7.0%
84651$1,400−1.4%
84653Current$1,420—
84655$1,320−7.0%
84660$1,320−7.0%
84663$1,380−2.8%
84664$1,320−7.0%

Questions about ZIP 84653 rents

How much will Section 8 pay for a two-bedroom in ZIP 84653?

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 $1,420 it would be $1,278 to $1,562. 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 84653 in?

ZIP 84653 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 84653 for FY 2027?

The two-bedroom FMR fell 8.4%, from $1,550 in FY 2026 to $1,420 in FY 2027. Since FY 2023 it has risen 10.9%.

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