How many renters live in Bingham County, Idaho?
The County of Bingham County has 48,253 people living in 15,627 households.
There are 9,511 renters living in 3,115 renter households in this County. Renters make up 19.71 percent of the population living in Bingham County.
What is the rental market like in Bingham County, Idaho?
There are an estimated 17,028 housing units in the Bingham County area. Of these, 3,362 units are rental homes, making up 20 percent of the housing market. For every renter household in Bingham County, Idaho, there are 1 rental units.
What is the vacancy rate for rentals in Bingham County?
The rental vacancy rate in Bingham County is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Bingham County for each bedroom size?
Occupied Rental Units by Size in Bingham County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 51 | 505 | 909 | 1,309 | 210 |
Occupied Rental Units by Size in Bingham County
A large number of apartments in Bingham County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Bingham County are overburdened by housing costs?
Among renter households in this market, 28 percent have housing cost burden. Further, 12 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Bingham County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $665 to $1,511. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $665 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,275 |
| Four BR | $1,511 |
2024 Fair Market Rents in Bingham County, Idaho
How many units are rented at Fair Market Rent (FMR) in Bingham County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 41 | 80 percent |
| One BR | 369 | 73 percent |
| Two BR | 691 | 76 percent |
Rental Units Below FMR in Bingham County, Idaho
How many affordable rental units are in Bingham County?
There are a variety of federal affordable housing programs serving households in Bingham County, Idaho including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 168 |
| Section 8 Project-Based Rental Assistance | 88 |
| USDA Section 515 Rural Rental Housing | 304 |
| USDA Section 514 Farm Labor Housing | 24 |
Tracked Units by Federal Program in Bingham County, Idaho
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Bingham County, Idaho
Bingham County features 429 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Bingham County, Idaho
There are 160 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bingham County.
Housing Choice Vouchers in Bingham County, Idaho
On average, Section 8 Housing Choice vouchers pay Bingham County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Bingham County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bingham County, Idaho for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
