Location: Idaho Falls, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 83449, located within the Idaho Falls, ID HUD Metro FMR Area, presents a unique opportunity for real-estate investors. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1040. However, due to the lack of current market rent data, it's challenging to make a direct comparison. Based on the available HUD FMR, voucher tenants in this region will generally cashflow at the FMR rate, meaning that landlords can expect to cover their expenses and earn a modest profit without needing to rely on premium units.
To further analyze the investment potential, consider the median home value in ZIP 83449, which stands at $539,373. This figure allows us to derive the rent-to-price ratio, a key metric for evaluating rental property investments. In this case, the ratio suggests that the rental income generated by properties in this area is relatively low compared to the median home values. This indicates that the primary advantage of investing in this market may be less about immediate cash flow and more about long-term stability or potential appreciation.
The dynamics of the local real estate market also play a significant role in investment decisions. With no specific data on days-on-market (DOM) or price-cut shares, we cannot definitively state how these factors influence the rent-versus-buy decision for residents. Nonetheless, the strong median home value suggests that the area is desirable and likely stable, which could translate into consistent demand for rental properties.
In summary, while voucher tenants in ZIP 83449 will typically cashflow at the HUD FMR rate, the high median home value and the absence of detailed market rent data point towards an environment where stability or appreciation may be the strongest investor angle.
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.