Location: Pocatello, ID | Metro: Pocatello, ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
The situation in ZIP code 83205, located in Idaho, presents unique challenges and opportunities for landlords and small-portfolio investors. The median income data for this area is currently unavailable, making it difficult to assess the average household's financial capacity. However, the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $990, which represents the voucher payment standard.
Without specific market rate data, it's challenging to quantify the exact affordability gap for renters. But generally, if the market rate exceeds the FMR of $990, many households might struggle to pay rent without assistance. This suggests a significant portion of renters could be reliant on housing vouchers to secure a place to live.
The percentage of renters and the total population figures are also missing, but these details would typically influence the level of competition among landlords. In areas where the majority of residents are renters, competition can be fierce, especially if the population is growing. Landlords must consider how many potential tenants might need voucher assistance versus those who can pay market rates.
For landlords evaluating their strategy between accepting vouchers and seeking cash-paying tenants, the unknown median income and market rate create uncertainty. However, given the FMR of $990, it's reasonable to assume that there is a substantial number of tenants who rely on vouchers. This means that landlords should weigh the benefits of steady, government-backed rental payments against the administrative complexities often associated with voucher programs.
Takeaway: While specific data points such as median income and market rate are not available for ZIP 83205, the reliance on the $990 FMR for voucher payments indicates a likely need for affordable housing options. Landlords should prepare for a mix of voucher and cash-paying tenants, considering the stability of voucher payments and the potential demand for affordable units.
Data Sources: FMR data from HUD (2027).
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.