Location: Latah County, ID | Metro: Latah County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
U.S. Census Bureau data (2024)
The ZIP code 83806 is primarily a homeowner-dominated area rather than a renter-heavy zone, with only 3.8% of the population being renters. This indicates that the demand for rental properties, especially those utilizing Section 8 vouchers, is relatively low compared to areas with higher percentages of renters.
Given the median household income of $43,125 in this ZIP code, the typical market rent of $950 represents approximately 22% of the monthly income. This percentage is calculated by taking the annual income ($43,125), dividing it by 12 months, and then comparing it to the monthly rent ($950). The Fair Market Rent (FMR) set at $1,250 for FY 2026 suggests that rental properties priced at $950 are below the average threshold, making them potentially more attractive to voucher holders.
The FMR is significantly higher than the market rent, indicating that the cost of living in ZIP 83806 is below the metropolitan average. This could mean that landlords might find it challenging to justify higher rents without compromising their ability to attract tenants who qualify for housing assistance programs.
A landlord in ZIP 83806 can expect a tenant profile that includes individuals and families with incomes below the area median. These tenants will likely rely on government assistance such as Section 8 vouchers to cover a portion of their rent. Given the low percentage of renters and the income levels, landlords should prepare for a slower turnover rate and possibly a smaller pool of potential tenants seeking rental units.
In conclusion, while there is some demand for rental properties, it is not overwhelming. Landlords should focus on maintaining competitive pricing and ensuring their properties meet the necessary standards for housing assistance programs to attract and retain tenants effectively.
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.