How many renters live in Vernal, Utah?
The City of Vernal has 10,141 people living in 3,327 households.
There are 4,403 renters living in 1,620 renter households in this City. Renters make up 43.42 percent of the population living in Vernal.
What is the rental market like in Vernal, Utah?
There are an estimated 4,071 housing units in the Vernal area. Of these, 1,972 units are rental homes, making up 48 percent of the housing market. For every renter household in Vernal, Utah, there are 1 rental units.
What is the vacancy rate for rentals in Vernal?
The rental vacancy rate in Vernal is 18 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 Vernal for each bedroom size?
Occupied Rental Units by Size in Vernal
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 47 | 118 | 898 | 458 | 82 |
Occupied Rental Units by Size in Vernal
A large number of apartments in Vernal 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 Vernal are overburdened by housing costs?
Among renter households in this market, 32 percent have housing cost burden. Further, 10 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 Vernal
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 | $730 |
| Two BR | $905 |
| Three BR | $1,269 |
| Four BR | $1,536 |
2024 Fair Market Rents in Vernal, Utah
How many units are rented at Fair Market Rent (FMR) in Vernal?
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 | 17 | 36 percent |
| One BR | 103 | 87 percent |
| Two BR | 633 | 70 percent |
Rental Units Below FMR in Vernal, Utah
How many affordable rental units are in Vernal?
There are a variety of federal affordable housing programs serving households in Vernal, Utah including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 146 |
| Section 8 Project-Based Rental Assistance | 38 |
| Section 202 Supportive Housing for the Elderly | 29 |
| USDA Section 515 Rural Rental Housing | 60 |
Tracked Units by Federal Program in Vernal, Utah
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Vernal, Utah
Vernal features 135 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 Vernal, Utah
There are 122 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Vernal.
Housing Choice Vouchers in Vernal, Utah
On average, Section 8 Housing Choice vouchers pay Vernal landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Vernal.
The maximum amount a voucher would pay on behalf of a low-income tenant in Vernal, Utah for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.