Location: Pocatello, ID | Metro: Pocatello, ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
U.S. Census Bureau data (2024)
The market in ZIP 83214 presents a dynamic scenario that landlords and small-portfolio investors should carefully consider. With a Fair Market Rent (FMR) of $1020 for the fiscal year 2024, it indicates a stable rental environment, but the lack of available market rent data suggests there may be limited recent activity or reporting in this area.
The absence of data on price-cut shares and days on market (DOM) makes it challenging to directly assess the balance between supply and demand. However, the 3.7% renter share in the ZIP code implies a predominantly owner-occupied community. This low percentage of renters can suggest a long-term housing pressure dynamic where the majority of residents prefer ownership over renting, which could mean fewer rental units are available relative to the number of homes in the area.
In such a market, landlords might find themselves in a position where they need to offer competitive rents and amenities to attract tenants. The stable FMR provides a benchmark for setting rental prices, ensuring they remain within the acceptable range for the area. Additionally, the relatively low renter share could indicate a potential niche opportunity for investors who can cater to the specific needs of renters in an otherwise owner-dominated neighborhood.
To fully understand the trajectory of the ZIP 83214 market, investors should keep an eye on future updates regarding market rent, price-cut shares, and DOM. These metrics will provide clearer insights into the supply-demand relationship and help tailor investment strategies accordingly.
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.