Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 83405 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 83405 (Idaho Falls, ID) is $1,260 a month. That is down 3.1% from $1,300 in FY 2026. Idaho Falls is in the Idaho Falls, ID HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,274. Among 15 ZIP codes in Bonneville County, 83405 is tied for the 10th-highest two-bedroom rent (county range $1,180–$1,540). The median county two-bedroom FMR in Idaho is $1,127, so ZIP 83405 is 12% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 83405
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,030
$1,000
−2.9%
$900–$1,100
1BR
$1,090
$1,050
−3.7%
$945–$1,155
2BR
$1,300
$1,260
−3.1%
$1,134–$1,386
3BR
$1,810
$1,740
−3.9%
$1,566–$1,914
4BR
$2,180
$2,110
−3.2%
$1,899–$2,321
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 83405
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,000
$1,050
$1,260
$1,740
$2,110
FY 2026
$1,030
$1,090
$1,300
$1,810
$2,180
FY 2025
$1,030
$1,080
$1,300
$1,820
$2,180
FY 2024
$800
$900
$1,100
$1,550
$1,870
FY 2023
$670
$800
$980
$1,390
$1,670
Two-bedroom rent in nearby Bonneville County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 83405?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,274, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,147 to $1,401 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 83405 in?
ZIP 83405 is in the Idaho Falls, ID HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,274.
How much did fair market rent change in ZIP 83405 for FY 2027?
The two-bedroom FMR fell 3.1%, from $1,300 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 28.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set