Section 8 Fair Market Rent (FMR) for ZIP 83832 - 2027

Location: Latah County, ID | Metro: Lewiston, ID-WA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,130
1 Bedroom	$1,190
2 Bedrooms	$1,380
3 Bedrooms	$1,910
4 Bedrooms	$2,300
5 Bedrooms	$2,668
6 Bedrooms	$2,988
7 Bedrooms	$3,227
8 Bedrooms	$3,388

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,961

Median Household Income

$91,250

Housing Units

766

Renter Percentage

14.2%

Occupancy Rate

96.3%

Renter Occupied

105

The ZIP code 83832, located in Idaho, offers a stable real estate market with a mix of rental and homeownership opportunities. The area benefits from a moderate cost of living, making it attractive to both tenants and property owners. Below is a concise analysis of key metrics that can guide investment decisions.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 83832 for fiscal year 2024 is set at $1250. This figure represents the maximum amount a low-income family should pay for housing under federal assistance programs, indicating the rental price range for subsidized units.
The market rent for the area, according to the Census American Community Survey (ACS), stands at $1,114. This is slightly below the FMR, suggesting that market rates are competitive and potentially favorable for landlords seeking to attract tenants without subsidies.
The median home value in ZIP 83832 is $449,445. This metric provides insight into the overall value of properties in the area, which can be crucial for investors considering long-term investments in homeownership or mixed portfolios.
Renters make up 14.2% of the housing market in this ZIP code. This relatively low percentage indicates that the majority of residents prefer homeownership, but there remains a significant demand for rental properties among those who do not own homes.
The median household income in the area is $91,250. This economic indicator suggests that residents have a reasonable disposable income, which could support higher rents or property values over time.

Synthesizing these points, ZIP 83832 presents a balanced market for landlords and small-portfolio investors. While the renter share is modest, the competitive market rent and strong median income provide a solid foundation for profitable rental operations. The FMR sets a benchmark for subsidized housing, while the median home value gives context to the broader real estate landscape. Investors should consider diversifying their portfolios to include both rental and homeownership opportunities to capitalize on the varied preferences of the local population.

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.