What HUD offices serve Magna, Utah?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Utah Public Housing and Low-Income Apartments Waiting Lists page for openings near Magna.
How many renters live in Magna, Utah?
The City of Magna has 29,275 people living in 8,738 households.
There are 5,596 renters living in 1,722 renter households in this City. Renters make up 19.12 percent of the population living in Magna.
What is the rental market like in Magna, Utah?
There are an estimated 8,953 housing units in the Magna area. Of these, 1,756 units are rental homes, making up 20 percent of the housing market. For every renter household in Magna, Utah, there are 1 rental units.
What is the vacancy rate for rentals in Magna?
The rental vacancy rate in Magna is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Magna for each bedroom size?
Occupied Rental Units by Size in Magna
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 31 | 296 | 480 | 547 | 296 |
Occupied Rental Units by Size in Magna
A large number of apartments in Magna have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Magna are overburdened by housing costs?
Among renter households in this market, 59 percent have housing cost burden. Further, 16 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Magna
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,121 to $2,452. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,121 |
| One BR | $1,338 |
| Two BR | $1,606 |
| Three BR | $2,168 |
| Four BR | $2,452 |
2024 Fair Market Rents in Magna, Utah
How many units are rented at Fair Market Rent (FMR) in Magna?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 9 | 29 percent |
| One BR | 224 | 76 percent |
| Two BR | 350 | 73 percent |
Rental Units Below FMR in Magna, Utah
How many affordable rental units are in Magna?
There are a variety of federal affordable housing programs serving households in Magna, Utah including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 171 |
| Section 8 Project-Based Rental Assistance | 30 |
| Section 202 Supportive Housing for the Elderly | 30 |
| Section 811 Supportive Housing for Persons with Disabilities | 21 |
Tracked Units by Federal Program in Magna, Utah
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Magna, Utah
Magna features 98 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Magna, Utah
There are 178 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Magna.
Housing Choice Vouchers in Magna, Utah
On average, Section 8 Housing Choice vouchers pay Magna landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Magna.
The maximum amount a voucher would pay on behalf of a low-income tenant in Magna, Utah for a two-bedroom apartment is between $1,445 and $1,767.
Sourced from federal housing data and AffordableHousingOnline.com research.
