Location: Power County, ID | Metro: Pocatello, ID MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $820 | $171,796 | 0.48% | F |
| 2BR | $1,080 | $236,136 | 0.46% | F |
| 3BR | $1,490 | $322,417 | 0.46% | F |
| 4BR | $1,800 | $371,017 | 0.49% | F |
| 5BR | $2,088 | $491,041 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 83204, located in Pocatello, ID, stands out within Bannock County due to its unique demographic and economic characteristics. With a population of 18,580 residents, 33.3% of whom rent their homes, the area has a median income of $57,146 and a median home value of $326,070. These figures indicate a middle-class community where homeownership is slightly more prevalent than renting.
From a voucher economics perspective, the Fair Market Rent (FMR) for ZIP 83204 in fiscal year 2024 is set at $910, which is notably lower than the market rate of $968, as indicated by the ZORI (Zillow Rent Index). This discrepancy suggests that landlords can expect a slight shortfall when relying solely on Section 8 vouchers to cover rental costs. However, the gap is relatively small, making it feasible for landlords to still profitably participate in the program while maintaining competitive rental rates.
Given the data signature of ZIP 83204, the overall housing market appears to be stable. The median home value and median income levels suggest a balanced environment where both renters and homeowners can find affordable options. Additionally, the close alignment between the FMR and ZORI indicates that rental prices are not experiencing significant volatility, further supporting the notion of stability in the local housing market.
To summarize, ZIP 83204 offers landlords and small-portfolio investors a stable environment with a slight tilt towards homeownership. While there is a modest difference between the FMR and market rents, the overall conditions remain favorable for those looking to manage rental properties in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.