Location: Clark County, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,470 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
U.S. Census Bureau data (2024)
The ZIP code 83435 is situated in a neighborhood characterized by a modest population of 600 residents. The rental market here is significant, with 42.9% of the residents being renters. The median household income stands at $73,750, indicating a middle-class community. However, it's worth noting that the median home value is not available, which could suggest a predominantly rental market or an insufficient data sample.
Moving into the economic analysis of the rental market, the Fair Market Rent (FMR) for ZIP 83435 as of the fiscal year 2024 is set at $1380. This figure is notably lower than the average market rent, which according to Census ACS data, is $1578. This discrepancy suggests that there might be opportunities for landlords who can offer housing below the market rate but above the FMR, catering to both voucher recipients and those willing to pay slightly more.
Given these numbers, ZIP 83435 presents a mixed landscape for investors. For hands-off operators relying on Section 8 vouchers, the area may not be as attractive due to the relatively low FMR compared to market rents. However, for hands-on investors looking to add value through property improvements or strategic management, the potential exists to capture a portion of the market that is willing to pay above the FMR. Such investors could target the 57.1% of homeowners or those renters who prefer higher-quality accommodations and are prepared to pay a premium for them.
In conclusion, while the FMR in ZIP 83435 is lower than the market rent, the neighborhood offers a balanced opportunity for both types of investors. Hands-off operators should consider the potential for lower returns, whereas hands-on buyers can leverage the difference between FMR and market rent to create a profitable and competitive rental offering.
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.