Location: Cassia County, ID | Metro: Cassia County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 83312 in Idaho Falls, ID, for landlords and small-portfolio investors considering Section 8 housing presents several challenges. Tenant turnover is a significant concern, especially when comparing the market rent to the Fair Market Rent (FMR) of $970 for FY 2024. While the market rent figure is unavailable, the disparity between market rates and FMR can lead to frequent changes in occupancy, impacting rental income stability.
Vacancy exposure is another critical issue. The Days on Market (DOM) statistic is missing, but a longer DOM typically indicates higher vacancy rates, which can be detrimental to an investor's cash flow. Landlords must be prepared for periods where their properties might remain unoccupied, even if they are priced at the FMR.
Deferred maintenance poses a considerable threat to property values and operational costs. With a median income of $57,155 and an unspecified typical home value, it's essential to understand that many tenants may not have the financial capacity to cover maintenance costs beyond what the voucher covers. This can result in landlords having to shoulder additional expenses for repairs and upkeep, which can strain budgets and reduce profitability.
Despite these risks, the high renter share of 10.9% suggests a robust demand for rental housing in the area. High renter density often translates into a greater number of individuals seeking housing assistance through Section 8 vouchers, potentially leading to a quicker turnaround time for finding qualified tenants. However, landlords should be cautious about relying solely on this statistic, as it does not guarantee consistent occupancy or mitigate the other risks involved.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.