ZIP Code · UT

ZIP 84003

Part of American Fork, UT

Pop. 57,430·Utah County·41st most expensive ZIP in Utah

Median rent (all units)

$1,699/mo

Year-over-Year

-0.8%

Month-over-Month

-0.7%

vs US Median

-$233

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 84003 · $1,699

More affordable than 58% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,460

1 BR

$1,470

2 BR

$1,700

3 BR

$2,360

4 BR+

$2,850

Research median

$1,700/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 84003 is 2.3% below its high of $1,739 in January 2026, at $1,699 as of September 2026.

Past year vs. the rest of Utah

Rent in ZIP 84003 changed -0.8% over the year to September 2026. Across the 66 Utah ZIP codes Zillow tracks, the typical change was +1.3%.

Recent direction

Rent has fallen 3 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($120,330) is $3,008 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,850).

From Zillow's monthly rent index (ZORI) for ZIP 84003. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,388/yr

At $1,699/mo median

Location

CityAmerican Fork

StateUT

CountyUtah County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.8% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-0.8% YoY, -0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 84003 (American Fork, UT) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 49.9% of residents hold a bachelor's degree or higher.

Population

57,430

Median income

$120,330

Median age

Renters

26.3%

Age distribution

32.6%

27.6%

23.9%

Under 1832.6%

18–3427.6%

35–5423.9%

55–647%

65+9%

Gender

51.8%

48.2%

Male51.8%

Female48.2%

Race & ethnicity

83.8%

White83.8%

Black0.7%

Hispanic8.4%

Asian1.7%

Other5.4%

Education (25+)

13.7%

31.8%

49.9%

No HS diploma4.6%

HS diploma13.7%

Some college31.8%

Bachelor's+49.9%

Housing tenure

73.7%

26.3%

Owner73.7%

Renter26.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 84003 in American Fork, UT has changed in 5 years

Rent

$1,649 → $1,699

up 3.0%

Income

$101,928 → $120,330

up 18.1%

Population

52,442 → 57,430

up 9.5%

Renter share

22.8% → 26.3%

+3.5 pts

Bachelor's+

47.5% → 49.9%

+2.4 pts

Median age

27.2 → 28

+0.8 yrs

Compared with 2023, rent in ZIP 84003 in American Fork, UT has climbed by $50 per month, settling near $1,699 after starting the period at $1,649. Household income in the area moved from $101,928 to $120,330 across the same window, up 18.1% versus 2021. Income growth outran rent by about 15.1 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 52,442 to 57,430 between 2021 and 2024, a 9.5% change. About 26.3% of households rent today, against 22.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 47.5% to 49.9%. Reading these numbers side by side helps frame whether current listings in ZIP 84003 in American Fork, UT look reasonable against where the market sat half a decade ago.

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About renting in ZIP 84003

Last updated: October 17, 2026

ZIP code 84003 covers American Fork, UT. The median rent here is $1,699/mo as of October 2026. A 1-bedroom rents for a median of $1,470/mo. A 2-bedroom rents for a median of $1,700/mo.

At 17% of local median household income ($120,330/yr), ZIP 84003 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 84003?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,699/mo in ZIP 84003. The local median household income is $120,330/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 84003?

Rent in ZIP 84003 has fallen 0.8% over the past year as of September 2026. It sits 2.3% below its high of $1,739 in January 2026.

How does ZIP 84003 compare to other ZIPs in Utah?

ZIP 84003 is in the middle among Utah ZIP codes for rent, ranking #41 of 79 at $1,699/mo. Over the year to September 2026, rent in ZIP 84003 changed -0.8%, against a typical +1.3% across the 66 Utah ZIP codes Zillow tracks.