Location: Butte County, ID | Metro: Butte County, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The market in ZIP code 83213 presents a dynamic environment where rental properties are likely to be in high demand. The Fair Market Rent (FMR) for the area stands at $910 for the fiscal year 2024, indicating a level set by HUD that reflects the affordability threshold for renters. However, the actual market rent, as per the Census American Community Survey, is recorded at $580. This suggests that there may be a significant gap between the cost of living and the affordability of rental units, which could point towards an underserved market.
The 28.7% renter share in 83213 is a critical figure, revealing that nearly a third of the population relies on rental housing. This high percentage of renters can signal ongoing long-term housing pressure, as it implies a continuous need for rental units. It also indicates that the area might not be conducive to homeownership for a substantial portion of its residents, possibly due to economic factors or lifestyle choices.
While the data provided does not include the percentage of price cuts or days on market (DOM), the absence of these metrics could imply a stable market without significant fluctuations. A stable market often means steady demand and supply, though the lower market rent compared to FMR suggests that there may still be opportunities for landlords to adjust their pricing without alienating potential tenants.
In summary, ZIP 83213 appears to be a market where demand for rental housing is robust, driven by a notable renter share. Landlords and small-portfolio investors should focus on offering competitive rents and maintaining quality properties to attract and retain tenants in this active rental market. The dynamics suggest a scenario where rental housing plays a crucial role in meeting the needs of a significant portion of the local population.
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.