Location: Pocatello, ID | Metro: Pocatello, ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
12.4% of the population in ZIP 83246 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, as of fiscal year 2024, is set at $970, which represents the upper limit for Section 8 payments. In contrast, the Census ACS reports a market rent of $870, suggesting that landlords participating in the Section 8 program can expect slightly higher rents compared to the general market. Given the median home value of $446,452, it's evident that the housing market in this area is relatively robust, which could translate into higher property values for rental units over time.
$73,125 is the median income for residents in ZIP 83246, a figure that is crucial for understanding the economic capacity of potential tenants. While the median income is not exceptionally high, it does support the viability of renting properties at the FMR level, especially considering the lower market rent. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut share, the overall economic indicators suggest a stable rental market with reasonable prospects for maintaining occupancy rates.
The difference between the FMR and market rent provides landlords with a clear advantage when participating in the Section 8 program. With the FMR at $970 and the market rent at $870, landlords can secure a consistent stream of rental income without the risk of market fluctuations. Additionally, the participation in such programs often ensures a steady turnover of tenants, reducing the need for significant price adjustments.
While the specific economic metrics for days on market and price-cut shares are unavailable, the combination of a moderate renter share and a fair gap between FMR and market rent supports a positive outlook for Section 8 participation in ZIP 83246. Landlords can confidently offer their properties under the Section 8 program, knowing they will receive a reliable rental payment that exceeds the current market average.
Verdict: ZIP 83246 is a favorable market for Section 8 participation, offering above-market rents with stable tenant turnover.
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.