Location: Latah County, ID | Metro: Latah County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 83872, located in Latah County, ID metro, reveals several key points that are crucial for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area, as of fiscal year 2026, is set at $1,020. However, the current market rent data is not available, making it challenging to directly compare the HUD FMR with actual market conditions.
Based on the HUD FMR alone, voucher tenants will likely cashflow at the FMR rate, assuming the $1,020 covers the majority of the rent. This means that landlords can expect to receive a steady stream of income from these tenants, albeit without significant profit margins beyond basic property maintenance and management costs. It's important to note that cashflowing at the FMR level is generally seen as positive but does not provide substantial upside potential unless market rents are lower than the FMR, which cannot be confirmed without specific market data.
The median home value in ZIP 83872 is $639,925. Using this figure, we can calculate a rough rent-to-price ratio. Assuming a standard mortgage payment structure, a monthly mortgage payment for a home valued at $639,925 would typically be higher than the HUD FMR of $1,020, suggesting that rental properties must be priced below the median home value to attract tenants. This indicates that while owning a home might be more expensive, renting at or near the FMR could still be attractive to tenants due to the lower upfront cost and ongoing expenses.
The lack of specific day median Days on Market (DOM) and percentage of price-cut shares makes it difficult to fully assess the rent-versus-buy dynamics. However, the stable HUD FMR and the high median home value suggest that the rental market could offer more stability compared to the fluctuating home prices.
In conclusion, the strongest angle for investors in ZIP 83872 appears to be stability, given the high median home value and the fixed nature of the HUD FMR. This makes rental investments a reliable option for generating consistent income, especially for those seeking a low-risk portfolio strategy.
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.