Location: Latah County, ID | Metro: Latah County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 83834 presents a unique scenario for both renters and landlords. Given the median household income of $98,594, it's essential to understand how this figure aligns with the local rental costs.
Unfortunately, the specific market rate for rentals in ZIP 83834 is currently not available. However, considering the median income, one might expect the rental rates to be relatively high, reflecting the economic conditions of the area.
In comparison, the federal payment standard for Section 8 vouchers is set at $1,150 per month for the metro area in fiscal year 2026. This amount is significantly lower than what might be expected given the median income, indicating a substantial affordability gap for low-income households seeking rental housing.
The ZIP code has a very low percentage of renters, standing at just 0.0%, which suggests that the majority of the 189 residents own their homes. This low rental rate implies minimal competition among landlords for tenants who pay out-of-pocket, potentially making the voucher program a more attractive option for securing a steady stream of rental income.
For landlords considering their strategy in ZIP 83834, the takeaway is clear: while cash-paying tenants might offer higher rents, the limited number of renters makes the voucher program a reliable alternative. Accepting vouchers at the $1,150 payment standard ensures a guaranteed tenant pool, albeit at a lower rate than the likely market value. Landlords should weigh the benefits of steady, government-backed income against the potential for higher, but less secure, cash payments.
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.