Location: Cassia County, ID | Metro: Twin Falls County, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 83344 reveals several key points for landlords and small-portfolio investors considering the area.
First, regarding rent math, the Fair Market Rent (FMR) set at $1150 for fiscal year 2024 contrasts sharply with the Census-reported market rent of $888. This discrepancy suggests that landlords aiming to meet the FMR might face challenges in finding tenants willing to pay the higher rate, especially given the current market conditions.
Second, the acquisition affordability is questionable. With a median home value of $471,629, potential investors must consider if this aligns with their investment strategy. The lack of available data on days on market (DOM) and the percentage of homes requiring price cuts indicates an incomplete picture of the local real estate market dynamics, which could be a red flag for investors looking for liquidity and quick returns.
Third, tenant demand appears to be moderate. The total population of 1,234 includes a significant 33.0% who are renters. This percentage indicates a reasonable pool of potential tenants, though the overall number of people is relatively small, suggesting limited scale for investment opportunities.
Verdict: While ZIP 83344 presents a modest tenant demand, the mismatch between the FMR and actual market rents poses a risk for achieving desired rental income. Additionally, the high median home value coupled with insufficient data on market liquidity makes acquisition less attractive unless investors are prepared for a long-term commitment with potentially lower yields compared to other markets. Investors should proceed with caution and thoroughly evaluate the local economic trends and competition before making any investment decisions.
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.