Location: Lewis County, ID | Metro: Lewiston, ID-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
The ZIP code 83548, located in Reubens, Idaho, is a community with a population of 145 residents, where 17.6% of them are renters. The median household income is $73,750, indicating a relatively stable economic environment. However, the median home value is not available, which suggests that the real estate market might be less active or have limited data points.
Transitioning into the rent economics, the Fair Market Rent (FMR) for ZIP 83548 in fiscal year 2024 is $1,200 for a two-bedroom apartment. This figure is crucial for landlords operating under the Section 8 Housing Choice Voucher Program, as it determines the payment standards ranging from 90% to 110% of the FMR. For a two-bedroom unit, the payment standard ranges from a minimum of $1,080 to a maximum of $1,320. The FMR already includes all utilities, simplifying the calculation for landlords who choose to cover these costs.
Considering the practical implications for investors, ZIP 83548 may suit both hands-off voucher operators and hands-on value-add buyers. The relatively low number of renters and the absence of specific market rent data suggest a niche market. Hands-off operators can rely on the FMR to ensure steady cash flow, while value-add buyers might find opportunities to improve properties and increase rental income above the FMR, especially given the stable median income levels. Both strategies require careful consideration of the local demand and the potential for property appreciation or stabilization.
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.