Location: Caribou County, ID | Metro: Bear Lake County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 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)
21.1% of residents in ZIP 83276 are renters, indicating a notable demand for rental properties in the area. The $970 Fair Market Rent (FMR) set for metro areas in fiscal year 2026 reflects the government's assessment of what is considered a reasonable rent for a two-bedroom apartment. This figure stands slightly above the $851 market rent observed according to the Census ACS, suggesting that landlords can align their rents closely with the FMR to remain competitive and attractive to potential tenants.
$323,302 is the median home value in ZIP 83276, which places it in a moderate range for property investment. Given the $64,750 median income in the area, the affordability of housing is relatively balanced, making it feasible for both homeowners and renters to find suitable accommodations. However, the slight premium of the FMR over the market rent indicates that there may be opportunities for landlords to increase their rental rates without significantly deterring tenants.
The data shows an N/A-day Days on Market (DOM), implying that rental units are typically occupied quickly once they become available. This quick turnover rate is beneficial for landlords who want to minimize vacancy periods and ensure steady cash flow. Additionally, the 0.1% price-cut share suggests that rental properties in ZIP 83276 rarely need to be discounted to attract tenants, further supporting the idea that landlords can maintain higher rents without losing occupancy.
In conclusion, ZIP 83276 presents a favorable environment for landlords and small-portfolio investors, with a healthy balance between rental demand and property values. The alignment of the FMR with market rents, combined with the low need for price cuts and quick occupancy times, makes it a stable and potentially profitable investment location. For those interested in participating in the Section 8 program, the area's metrics suggest strong participation can be expected due to the high renter share and the reasonable gap between FMR and market rents.
Section 8 Verdict: Favorable for participation.
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.