Location: Lewis County, ID | Metro: Lewiston, ID-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
The potential pitfalls for a landlord investing in ZIP 83545 under the Section 8 program are significant. Tenant turnover poses a substantial challenge, with the market rent at $1,031 being notably lower than the Fair Market Rent (FMR) of $1,110 for FY 2024. This gap suggests that tenants may find it difficult to maintain housing stability without assistance, leading to higher turnover rates. Additionally, the vacancy exposure is considerable due to the lack of data on days on market (DOM), which indicates uncertainty regarding how quickly properties can be filled. The deferred maintenance exposure is also a concern, given the typical home value of $409,018 and a median income of $63,750. These figures imply that residents may struggle to afford necessary repairs and upkeep, potentially resulting in a higher need for landlords to manage these costs.
Despite these challenges, there are mitigating factors that make ZIP 83545 an attractive investment for Section 8 landlords. The renter share stands at 12.0%, indicating a relatively high concentration of renters in the area. High renter density typically correlates with increased demand for rental housing and, consequently, greater interest in Section 8 vouchers. This demand can help stabilize occupancy rates and provide a steady stream of qualified tenants.
In summary, the risks associated with Section 8 investments in ZIP 83545 include high tenant turnover, significant vacancy exposure, and deferred maintenance issues. However, the high renter share suggests robust demand for subsidized housing. Given these considerations, the overall risk for a first-time Section 8 landlord in ZIP 83545 is moderate.
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.