Section 8 Fair Market Rent (FMR) for ZIP 83217 - 2027

Location: Caribou County, ID | Metro: Caribou County, ID

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$1,040
2 Bedrooms	$1,290
3 Bedrooms	$1,780
4 Bedrooms	$2,150
5 Bedrooms	$2,494
6 Bedrooms	$2,793
7 Bedrooms	$3,016
8 Bedrooms	$3,167

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

712

Median Household Income

$74,688

Housing Units

352

Renter Percentage

10.0%

Occupancy Rate

67.9%

Renter Occupied

The ZIP code 83217, located in the heart of Idaho Falls, Idaho, offers a stable and growing rental market for real estate investors. The area benefits from a mix of residential and commercial developments, making it attractive for both tenants and property owners.

The Fair Market Rent (FMR) for ZIP 83217 is set at $1,210 per month for the metro area in fiscal year 2026, indicating a robust demand for affordable housing options.
The actual market rent, as reported by the Census American Community Survey, stands at $1,083 per month, suggesting that there is potential for rents to rise closer to the FMR levels.
The median home value in the area is $355,366, providing a solid base for property investments and offering opportunities for appreciation over time.
Renters make up 10.0% of the population, a figure that highlights the importance of rental properties in the local economy and the need for continued investment in affordable units.
The median household income in ZIP 83217 is $74,688, which supports a diverse range of tenants capable of paying market rents and contributes to the overall stability of the rental market.

Investors looking to enter the ZIP 83217 market can expect steady returns with the potential for growth as rents approach the Fair Market Rent levels. The current market rent is below the FMR, indicating room for modest increases without pricing out the majority of the tenant pool. With a median home value that is likely to appreciate, and a median income that supports rental payments, the area presents a favorable environment for long-term investments. However, the relatively low renter share suggests that competition for tenants could be fierce, requiring landlords to maintain high-quality properties to attract and retain residents.

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.