Location: Bear Lake County, ID | Metro: Bear Lake County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The ZIP code 83220, located in Idaho, stands out due to its unique characteristics. With only 138 residents, it has the lowest rental percentage at 0.0%, indicating that almost no one rents within this area. The median income for residents is $78,021, which is notably high considering the small population size. However, the median home value is listed as N/A, suggesting a lack of comprehensive data regarding property values.
Turning to the economic aspects of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure is significant because it represents the maximum amount that a landlord can charge for a rental unit under the Section 8 program. In comparison, the market rent data for ZIP 83220 is also listed as N/A, making it difficult to assess how the FMR compares to actual market conditions. This absence of market rent data could imply that the rental market is either non-existent or so small that reliable data cannot be collected.
Given the data available, ZIP 83220 presents a stable picture. The low rental rate and high median income suggest that homeownership is the dominant form of housing in this area, with residents likely able to afford homes without relying on rental assistance programs. The lack of median home value and market rent data indicates a need for further investigation into the local real estate market dynamics. For landlords and small-portfolio investors, this ZIP code does not appear to be an active rental market, but the potential for long-term stability and investment in homeownership opportunities remains strong.
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.