Location: Idaho Falls, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
U.S. Census Bureau data (2024)
The ZIP code 83428 is primarily a homeowner-dominated area rather than a renter-heavy zone, given that only 2.5% of the population are renters. This indicates a relatively low demand for rental properties compared to areas with higher percentages of renters.
The median household income in this ZIP is $68,750, which is quite substantial. However, without specific market rent data, we cannot accurately determine what percentage of local income goes towards typical rent. To illustrate, if we assume an average rent similar to the Fair Market Rent (FMR), which is set at $1,100 for FY 2024, then rent would consume approximately 19.5% of the median household income.
This figure places the expected rent burden well below the generally accepted guideline that housing costs should not exceed 30% of income. Therefore, landlords can anticipate tenants who are financially stable and likely to have sufficient funds to cover rent and other living expenses comfortably.
The type of tenant profile a landlord in ZIP 83428 should expect includes individuals or families who are employed and earn a steady income, possibly working in local industries that support such earnings. Given the low percentage of renters and the relatively high median income, these tenants are likely to be those who prefer or require the flexibility of renting over purchasing a home, such as young professionals, recent graduates, or individuals transitioning between homes.
Landlords should also note that due to the low renter percentage, the availability of Section 8 vouchers might be limited. This means that while there may still be some demand for subsidized housing, it is not likely to be a dominant feature of the rental market in this area. As a result, landlords may need to consider broader marketing strategies to attract a diverse range of tenants beyond just those seeking government assistance.
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.