Location: Caribou County, ID | Metro: Logan, UT-ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The ZIP code 83241, located in Caribou County, Idaho, serves as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 83241 in fiscal year 2024 is set at $910, while the market rent stands at $798. This spread of $112 represents a stable source of income that is higher than the typical market rent. With a median home value of $344,700, the properties in this area offer a reliable base for generating consistent cash flow.
The median income in ZIP 83241 is $71,298, indicating that there is a sufficient population able to pay the market rent. Additionally, the 14.4% renter share suggests that there is a notable segment of the population who rely on rental housing, including those who may benefit from Section 8 vouchers. This combination of factors ensures that the rental market in 83241 is robust enough to support a steady stream of income for landlords participating in the Section 8 program.
While appreciation plays and diversifiers are also important components of a real estate investment strategy, the consistent cash flow provided by the FMR in ZIP 83241 makes it an ideal choice for landlords and small-portfolio investors seeking stability and predictability in their rental income. The $112 difference between the FMR and market rent provides a buffer against potential fluctuations in market conditions, ensuring that investments in this area remain solid and dependable.
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.