Location: Idaho Falls, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
U.S. Census Bureau data (2024)
12.7% of Rigby, ID's residents are renters, indicating a moderate demand for rental properties in ZIP 83442. The Fair Market Rent (FMR) for the area is set at $1090 for zip FY 2024, which is significantly lower than the actual market rent of $1,456 (ZORI). This suggests that landlords can potentially attract Section 8 tenants while still maintaining a competitive position in the local rental market. The median home value stands at $480,634, reflecting a stable housing market where property values have remained consistent. However, the median income of $88,260 might limit the purchasing power of some residents, making affordable rentals even more attractive. With a Days on Market (DOM) of 55 days, properties are moving relatively quickly, indicating a healthy turnover rate for landlords. The low price-cut share of 0.2% shows that properties are generally priced correctly and do not require significant adjustments to sell, which is positive for both buyers and sellers. Given these figures, landlords and small-portfolio investors should consider the potential benefits of accepting Section 8 tenants, as it can provide a steady stream of income without compromising on market positioning. The verdict for Section 8 participation in Rigby, ID remains favorable due to the strong rental market and moderate demand for affordable housing.
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.