The Salt Lake City numbers back this up. HUD's FY2027 fair market rent for a 2BR there runs $1,580 to $1,680 depending on the ZIP, which is roughly $19,000 to $20,200 a year per unit at voucher rates. Owning instead of leasing converts that from rent inflation to a fixed asset, and the voucher moves to the next family on the waitlist. One finance hire did what ten years of grant writing could not.