Location: Idaho Falls, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
The dynamics of ZIP code 83405 in Idaho reveal a market in motion, characterized by specific indicators that frame the current state of rental properties. The Fair Market Rent (FMR) for the area stands at $1100 for the fiscal year 2024, suggesting a defined threshold for rental pricing. However, the lack of data on market rent indicates either an underdeveloped dataset or a unique situation where official market rent figures have not been established.
The absence of percentage data for price-cut shares and days on market (DOM) signals a potential equilibrium in the rental market, where neither significant discounts nor extended periods of vacancy are prevalent. This suggests that landlords are setting competitive rates that attract tenants promptly, without the need for substantial adjustments. The median home value also remains undefined, which could imply a diverse range of property values or a smaller sample size for accurate measurement.
While the percentage of renters is not specified, the snapshot of ZIP 83405 points to a market where the supply and demand are likely balanced. In areas with a high renter share, there's often increased pressure on housing due to limited availability of owner-occupied homes. Conversely, a lower renter share might indicate a preference for homeownership, potentially reducing long-term rental pressures. With the exact figure missing, it's prudent to focus on the known FMR and infer that landlords are operating within a stable market, adjusting their strategies based on the local economic conditions and tenant preferences.
The overall picture of ZIP 83405 suggests a market where landlords can maintain steady operations, setting rents close to the FMR without needing to frequently adjust prices or offer discounts. This stability provides a reliable environment for both landlords and small-portfolio investors, who can plan their investments with confidence, knowing the rental market is functioning within expected parameters.
Data Sources: FMR data from HUD (2027).
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.