How many renters live in Tropic, Utah?
The City of Tropic has 524 people living in 211 households.
There are 54 renters living in 19 renter households in this City. Renters make up 10.31 percent of the population living in Tropic.
What is the rental market like in Tropic, Utah?
There are an estimated 288 housing units in the Tropic area. Of these, 25 units are rental homes, making up 9 percent of the housing market. For every renter household in Tropic, Utah, there are 1 rental units.
What is the vacancy rate for rentals in Tropic?
The rental vacancy rate in Tropic is 24 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Tropic for each bedroom size?
Occupied Rental Units by Size in Tropic
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 2 | 17 | 0 |
Occupied Rental Units by Size in Tropic
A large number of apartments in Tropic 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 Tropic are overburdened by housing costs?
Among renter households in this market, 0 percent have housing cost burden. Further, 0 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 Tropic
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $617 to $1,536. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $617 |
| One BR | $806 |
| Two BR | $905 |
| Three BR | $1,094 |
| Four BR | $1,536 |
2024 Fair Market Rents in Tropic, Utah
How many units are rented at Fair Market Rent (FMR) in Tropic?
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 |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Tropic, Utah
How many affordable rental units are in Tropic?
Income Based Apartments in Tropic, Utah
Tropic features 0 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 Tropic, Utah
There are 6 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Tropic.
Housing Choice Vouchers in Tropic, Utah
On average, Section 8 Housing Choice vouchers pay Tropic landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Tropic.
The maximum amount a voucher would pay on behalf of a low-income tenant in Tropic, Utah for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
