Location: Boundary County, ID | Metro: Boundary County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 83847, located in Boundary County, ID, reveals key insights for landlords and small-portfolio investors.
The rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,200, which is higher than the current market rent. However, since the current market rent data is unavailable, it's crucial to understand that relying solely on FMR without knowing the actual market rates can lead to mispricing units and potentially losing tenants to more competitively priced options.
Acquisition in this area is moderately affordable. The median home value stands at $498,861, which is a significant investment but may be manageable for some investors given the right financing options. Unfortunately, the data lacks specifics on days on market (DOM) and the percentage of homes needing price cuts, making it difficult to gauge how quickly properties sell and at what discount.
Tenant demand is present but limited. With a population of 1,714, the renter share is 25.8%, indicating that approximately 443 residents are likely to be potential renters. This relatively small number suggests that competition for tenants could be intense, requiring landlords to maintain high-quality properties and competitive pricing to attract and retain tenants.
Verdict: Investing in ZIP 83847 presents challenges and opportunities. While the potential rental income based on FMR is attractive, the lack of current market rent data poses a risk. The median home value indicates a moderate entry cost, but without DOM and price-cut data, assessing the ease of property acquisition remains speculative. Tenant demand exists, though the limited pool means landlords must offer well-maintained, competitively priced units to succeed. Overall, careful consideration and thorough local market research are essential before committing capital to this area.
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.