Location: Washington County, ID | Metro: Adams County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,650 |
| 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 real estate landscape in ZIP code 83632 presents a nuanced scenario for both landlords and small-portfolio investors. The median home value is currently unavailable, which can be attributed to limited data points or recent fluctuations in the market. However, the fact that a significant percentage of listings are being reduced suggests a seller's market may be transitioning towards a buyer's market. This reduction in listing prices could indicate that sellers are becoming more flexible and willing to negotiate, potentially signaling a period where buyers have more leverage to secure better deals.
The median days on market (DOM) is also reported as N/A, which typically indicates a rapidly changing market environment where sales occur quickly, making it difficult to establish a consistent trend. This rapid turnover, combined with the reduction in listing prices, could imply that the market is experiencing a period of adjustment, possibly due to economic factors or changes in supply and demand dynamics.
On the rental side, the Forward Market Rate (FMR) for ZIP 83632 is set at $1,120 for fiscal year 2026, compared to the current market rate of $790 based on Census ACS data. This discrepancy highlights a potential opportunity for landlords who can position their properties to capture higher rents as the market adjusts to meet the projected FMR. The gap between the current market rate and the FMR suggests that rental prices could rise in the coming years, aligning with the anticipated increase in the cost of living and property values.
For long-term investors, the setup implied by these data points suggests a cautious approach is warranted. While the potential for rental price appreciation exists, the lack of clear trends in home values and DOM indicates that the market is in flux. Long-hold investors should consider diversifying their portfolios and focusing on areas with stable growth patterns. Additionally, investing in properties that can be improved to command higher rents, closer to the FMR, may provide a more solid foundation for future returns.
The overall analysis points to a market that is likely to experience shifts in pricing power over the next 12-24 months. Landlords and small-portfolio investors must remain vigilant, ready to adapt their strategies as the market evolves. By closely monitoring trends in both home values and rental rates, they can make informed decisions that maximize their investment outcomes.
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.