How many renters live in Fernan Lake Village, Idaho?
The City of Fernan Lake Village has 135 people living in 64 households.
There are 5 renters living in 2 renter households in this City. Renters make up 3.7 percent of the population living in Fernan Lake Village.
What is the rental market like in Fernan Lake Village, Idaho?
There are an estimated 65 housing units in the Fernan Lake Village area. Of these, 2 units are rental homes, making up 3 percent of the housing market. For every renter household in Fernan Lake Village, Idaho, there are 1 rental units.
What is the vacancy rate for rentals in Fernan Lake Village?
The rental vacancy rate in Fernan Lake Village is 0 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 Fernan Lake Village for each bedroom size?
Occupied Rental Units by Size in Fernan Lake Village
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 2 |
Occupied Rental Units by Size in Fernan Lake Village
A large number of apartments in Fernan Lake Village 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 Fernan Lake Village are overburdened by housing costs?
Among renter households in this market, 0 percent have housing cost burden. Further, 0 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 Fernan Lake Village
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $853 to $2,135. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $853 |
| One BR | $1,042 |
| Two BR | $1,258 |
| Three BR | $1,773 |
| Four BR | $2,135 |
2024 Fair Market Rents in Fernan Lake Village, Idaho
How many units are rented at Fair Market Rent (FMR) in Fernan Lake Village?
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 |
Rental Units Below FMR in Fernan Lake Village, Idaho
How many affordable rental units are in Fernan Lake Village?
Income Based Apartments in Fernan Lake Village, Idaho
Fernan Lake Village features 206 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 Fernan Lake Village, Idaho
There are 219 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fernan Lake Village.
Housing Choice Vouchers in Fernan Lake Village, Idaho
On average, Section 8 Housing Choice vouchers pay Fernan Lake Village landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Fernan Lake Village.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fernan Lake Village, Idaho for a two-bedroom apartment is between $1,132 and $1,384.
Sourced from federal housing data and AffordableHousingOnline.com research.
