Location: Pocatello, ID | Metro: Pocatello, ID MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 83281, located in the Pocatello, ID MSA metro area, reveals several key points for potential landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 83281 in fiscal year 2024 is set at $1040. However, without specific market rent data, it's challenging to directly compare these figures. If the market rent is below $1040, then the rent math could be favorable; otherwise, it might not support the investment.
Regarding the affordability of acquisitions, the lack of detailed data on median home values, days on market (DOM), and the percentage of homes needing price cuts hinders a comprehensive assessment. Landlords should seek additional local insights to determine if property purchases align with their financial strategies.
Tenant demand is another critical factor. ZIP 83281 has a population of 148, with a 0.0% renter share. This indicates an extremely low demand for rental properties, which could pose significant challenges for landlords seeking to fill units and maintain occupancy rates.
Verdict: The viability of investing in ZIP 83281 as a landlord or small-portfolio investor is questionable. The absence of market rent data makes it difficult to assess the profitability of rental income based on the FMR of $1040. Furthermore, the extremely low renter share of 0.0% suggests a limited pool of potential tenants, which could lead to prolonged vacancies and reduced cash flow. Landlords must carefully consider these factors before making any investment decisions in this ZIP code.
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.