Location: Shoshone County, ID | Metro: Shoshone County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The ZIP code 83868 presents a unique challenge for renters and landlords alike. The median income here stands at $51,270, which translates into a monthly income of approximately $4,272. Given the market rate for rent at $955 (as per Census ACS), a household would be spending roughly 22.4% of their monthly income on rent alone. This figure, while manageable, highlights the financial pressure many renters face.
However, the situation becomes more complex when comparing the market rate to the Fair Market Rent (FMR) standards set for voucher payments. In metro FY 2026, the FMR is pegged at $1,150. This means that voucher holders would potentially have to pay a higher amount out-of-pocket, as the difference between the market rate and the FMR must be covered by the tenant. For instance, if a voucher covers up to $1,150, and the market rate is $955, the tenant might still need to contribute towards the higher end of the spectrum to meet the FMR, thus increasing their financial burden.
With 37.0% of the population renting and a total population of 906, there is a significant pool of potential tenants. However, the affordability gap between the median income and both the market rate and FMR creates a competitive landscape for landlords. Landlords must carefully consider whether to accept vouchers, which could bring in a steady, government-backed rental income, or focus on cash-paying tenants who might be willing to pay closer to the market rate but are fewer in number due to the economic constraints.
The takeaway for landlords is clear: accepting vouchers can stabilize your income, as it ensures a base level of payment guaranteed by the government. However, it also means dealing with the administrative complexities and potential out-of-pocket costs for tenants. On the other hand, focusing on cash-paying tenants might yield slightly higher rents but comes with the risk of a smaller pool of financially capable renters. Balancing these factors will be crucial in making informed decisions about your rental strategy in ZIP 83868.
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.