Location: Twin Falls County, ID | Metro: Twin Falls County, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
In ZIP code 83334, there are several potential issues that could impact the success of a Section 8 investment. First, tenant turnover is likely to be higher due to the disparity between the market rent of $932 and the Fair Market Rent (FMR) of $1120 for fiscal year 2024. This gap suggests that tenants may struggle to cover the difference between their vouchers and the actual market rent, leading to frequent moves.
Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable. However, with a typical home value of $365,999 and a median income of $64,583, there's a significant risk of deferred maintenance. Landlords must be prepared to invest in maintaining properties at a high standard, as lower-income residents might not have the means to keep up with necessary repairs and upkeep.
Despite these challenges, the investment does have some favorable factors. The renter share in ZIP 83334 is 40.5%, indicating a high concentration of renters. This typically translates into a robust demand for rental housing, including units that accept Section 8 vouchers. High renter density can mitigate some risks associated with vacancy and turnover, as there will likely always be a pool of potential tenants.
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.