Location: Idaho Falls, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The ZIP code 83450 stands out in County with a unique demographic profile. With only 1,207 residents, it has a rental rate of 40.6%, indicating a significant portion of the population relies on leased properties. The median income here is $70,046, which is relatively modest compared to the median home value of $390,533. This stark contrast between income and home values suggests that homeownership is financially challenging for many residents, making rental options, including those supported by government assistance, particularly attractive.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 83450 in fiscal year 2024 is set at $1,060, while the market rent, based on Census American Community Survey (ACS) data, is around $900. This $160 difference highlights the potential for landlords to benefit from Section 8 vouchers, which can cover a higher proportion of rent than the market might otherwise support. For small-portfolio investors, this discrepancy presents an opportunity to offer affordable housing solutions while ensuring steady, government-backed rental income.
Assessing the overall data signature of ZIP 83450, the combination of low median income, high median home values, and a substantial rental market indicates a transitional environment. While the area maintains a stable rental demand, the economic conditions suggest ongoing shifts in the housing market dynamics, influenced heavily by the availability of rental assistance programs. Landlords and investors should monitor these trends closely to adapt their strategies accordingly, leveraging the Section 8 program to meet the needs of renters and ensure financial stability.
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.