Location: Bear Lake County, ID | Metro: Bear Lake County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 83272 provides a clear picture of potential investment returns based on the available data. The Fair Market Rent (FMR) for a two-bedroom apartment in this area, as of fiscal year 2026, is set at $970 per month. This figure represents the annualized rental income an investor can expect if participating in the Section 8 program.
To calculate the implied gross yield, we need to consider the median home value of $519,011. Assuming a property with a two-bedroom apartment could be valued similarly, the annual rental income would be $11,640 ($970 x 12 months). The gross yield can be calculated as follows:
Gross Yield = (Annual Rental Income / Property Value) x 100
In this case, the gross yield would be approximately 2.24% ($11,640 / $519,011 x 100).
However, it's important to note that the market rent for the area is listed as N/A, indicating insufficient data for a direct comparison. Despite this, we can infer that if market rents were higher, the gross yield would also increase. For instance, if market rents were hypothetically $1,200 per month, the gross yield would be about 2.82%. But since we do not have a specific market rent figure, this scenario remains speculative.
The renter density of 1.5% suggests a relatively low demand for rentals in ZIP 83272. Additionally, the N/A-day Days on Market (DOM) indicates a lack of data regarding how quickly properties are rented out, which could affect vacancy rates and, consequently, the overall profitability of a Section 8 investment.
Given these factors, the gross yield derived from the Section 8 FMR of 2.24% is more realistic for the current situation. While market rents might offer a slightly better gross yield, the limited data on market rents and the low renter density make the FMR-based calculation the most reliable estimate for potential investors.
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.