Location: Jerome County, ID | Metro: Jerome County, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 83325 is poised for stability and potential growth over the next 12-24 months, given the current median home value of $449,475. Despite the lack of specific percentages for listings that have been reduced and the median days on market (DOM), the absence of significant price reductions suggests a robust market where sellers maintain strong pricing power. This implies that homes are likely selling at or near their asking prices, indicating a favorable environment for landlords and small-portfolio investors.
The Federal Market Rent (FMR) for ZIP 83325 is projected to be $1,130 for fiscal year 2024, compared to the current market average of $979 according to Census ACS data. This gap between the FMR and the actual market rent signals an opportunity for rental income growth. As the FMR increases, there is a likelihood that market rents will also rise, aligning with the federal guidelines. Landlords and investors can expect to see upward pressure on rents, which could lead to higher cash flows from their properties.
For long-term investors, the setup in ZIP 83325 points towards a realistic appreciation thesis. The combination of a stable median home value and the potential for rising rents creates a scenario where property values are likely to appreciate over time. This is further supported by the current demand dynamics, as evidenced by the lack of significant price reductions and the expected increase in rental rates. However, it's important to note that appreciation is not guaranteed; it depends on various factors including local economic conditions, job growth, and population trends.
To summarize, the current median home value, the lack of widespread price reductions, and the anticipated rise in rental rates all indicate a market where landlords and small-portfolio investors can maintain strong pricing power and potentially benefit from property value appreciation. The setup is favorable for those looking to hold onto their investments for the long term.
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.