Location: Bingham County, ID | Metro: Bingham County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 83210 is situated in a suburban neighborhood characterized by a relatively small population of 3,843 residents. This area is predominantly owner-occupied, with only 20.2% of the population renting their homes. The median income in this ZIP code stands at $74,615, indicating a middle-class community. The median home value is notably high at $300,496, suggesting a stable housing market where property values are well above the national average.
When it comes to rental economics, the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) for the metro area in fiscal year 2026 is $970. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is significantly lower at $738 per month. This discrepancy between the FMR and the market rent presents an opportunity for Section 8 investors, as the HUD subsidy rates are likely to cover a substantial portion of the rental costs, making it attractive for both tenants and landlords.
The question then becomes whether this ZIP code is suitable for a hands-off voucher operator or requires a hands-on approach for a value-add buyer. Given the low percentage of renters and the higher median home value, a hands-off strategy may suffice for operators looking to maintain properties without extensive renovations or management involvement. On the other hand, a value-add buyer could find opportunities in upgrading the few rental units available to meet the higher FMR standards, thereby increasing rental income and potentially attracting tenants who benefit from the Section 8 program.
In conclusion, ZIP 83210 offers a stable environment for Section 8 investment, with a favorable gap between the HUD FMR and the current market rent. Investors should consider the local demand and the potential for adding value to existing rental properties when deciding on their strategy.
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.