Location: Power County, ID | Metro: Power County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 83271 represents a small, tight-knit neighborhood with a total population of just 415 residents. Only 15.5% of these residents are renters, indicating a predominantly owner-occupied community. The median household income here is $62,250, suggesting a middle-class area where most residents can afford homeownership. The median home value stands at $258,027, reflecting the modest yet stable housing market in this region.
When it comes to rental economics, the Fair Market Rent (FMR) for ZIP 83271 in fiscal year 2024 is set at $920. This figure is slightly below the estimated market rent of $945, based on Census American Community Survey (ACS) data. For Section 8 investors, this means that the voucher rates will cover nearly all of the market rent, leaving little room for additional profit through higher rents. However, the gap between FMR and market rent is narrow, which could still make properties in this ZIP attractive for voucher tenants.
The low percentage of renters and high median home values suggest that this area may be less appealing for hands-off voucher operators. Such investors typically seek neighborhoods with a higher concentration of renters and lower home values to maximize their returns. Conversely, the ZIP 83271 might be more suitable for hands-on value-add buyers who can invest in property improvements and potentially command slightly higher rents, even within the constraints of voucher rates. These buyers would benefit from the relatively stable income levels and modest home values, which provide an opportunity to create value through careful management and strategic upgrades.
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.