Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 83124, located in Idaho, stands out due to its unique demographic and economic characteristics. With only 96 residents, it is one of the smallest ZIP codes in terms of population. Despite its small size, 20.5% of these residents rent their homes, indicating a niche market for rental properties. The median income for this ZIP is $87,500, which is relatively high considering the limited population, suggesting a concentration of higher-income households.
Regarding Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $960. This figure is crucial for landlords and small-portfolio investors as it determines the maximum rent that can be charged to tenants receiving housing assistance. However, the lack of available data on the median home value and market rent in ZIP 83124 presents a challenge in assessing the local rental market dynamics. Without specific market rent data, it's difficult to compare the FMR against local conditions, but the high median income suggests that even with Section 8 assistance, some tenants might afford higher rents.
The data signature for ZIP 83124 reads as stable. The high median income and the presence of a small but consistent rental market indicate a steady environment where landlords can expect reliable tenant behavior and potentially stable rental incomes. While the absence of certain metrics such as median home value and precise market rent figures introduces an element of uncertainty, the overall picture suggests a stable community with a clear demand for rental properties, especially those that align with the Section 8 program's guidelines.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.